Dabur Q1 net falls 10% to INR 264.86 Cr

FMCG major Dabur IndiaBSE 0.64 % on Friday reported 10 per cent year-on-year (YoY) fall in consolidated net profit at Rs 264.86 crore for the quarter ended June 30, 2017 against Rs 293.64 crore in the corresponding quarter last year. 

ET Now poll had predicted a net profit of Rs 275 crore in Q1FY18. 

Total income of the company slipped by 7 per cent YoY to Rs 1871.34 crore during the quarter under review. It had reported total income of Rs 2013.23 crore in the same quarter.
 

The amount of Rs 14.54 crore in exceptional items relates to provision made in respect of GST transition impact, on the inventories lying with distributors of the company as of June 30, 2017. 
 

The company also issued 17,500 equity shares under the Dabur Stock Option Scheme, 2000. An official statement highlighting the changes or cancellation or exercise of such options said: “1,06,550 number of stock options granted earlier under the scheme have been fortified”.

The company’s revenue from operations stood at INR 1,790.1 crore during the first quarter of the current financial year. This is 8.3 per cent lower than the INR 1,952.2-crore revenue from operations during the corresponding period of the financial year 2016-2017.

An investor presentation said that product sales through e-commerce in the Middle East and North America (MENA) are growing in double digits. Dabur India plans to tap the same, the company said.

International business posted a 2.2 per cent y-o-y decline in constant currency terms during the first quarter of the current financial year.