FMCG firm Dabur India Limited on Thursday reported 5.9 per cent fall in consolidated net profit at Rs 342 crore in April-June quarter of fiscal 2020-21 as against Rs 363 crore in the corresponding period of last year. The company ended the first quarter of 2020-21 with a 12.9 per cent drop in consolidated revenue from operations at Rs 1,980 crore as against Rs 2,273 crore a year earlier, Dabur India said in an exchange filing.
On standalone basis, Dabur India reported a 12.3 per cent growth in net profit at Rs 289.4 crore in Q1 2020-21, up from Rs 257.8 crore a year earlier. Standalone revenue for the quarter stood at Rs 1,491 crore as against Rs 1,628 crore a year ago. Dabur also continued to gain market share across all key categories like Chyawanprash, Toothpaste and Packaged Juices & Nectars, during the quarter.
Domestic FMCG business saw a decline of 6.9 per cent due to the coronavirus lockdown in April and international business witnessed a fall of 21.6 per cent. As a result, overall volume declined 9.7 per cent.
"We entered this crisis from a position of strength. We were growing at a steady pace when the COVID pandemic brought business to a standstill. Amidst this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality Preventive Healthcare, Personal Hygiene and Household Hygiene products, while alongside enhancing production of our existing Ayurvedic Immunity boosters like Dabur Chyawanprash and Dabur Honey. Despite a challenging April, the quarter saw a nearly 7-fold growth in demand for Dabur Chyawanprash and an over 60% surge in demand for Dabur Honey. Dabur has significantly ramped up capacity with production now at near-normal levels and the business poised to deliver growth for the rest of the year," Dabur India, CEO,. Mohit Malhotra said.
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