Dabur India's Q2 standalone net profit up 5.5 pc

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SME Times News Bureau | 31 Oct, 2017
FMCG major Dabur India on Tuesday reported a 5.46 percent rise in its standalone net profit for the second quarter (Q2) ended September 30.

The company's standalone net profit for Q2 stood at Rs 283.41 crore as compared to the net profit of Rs 268.72 crore reported during the corresponding period of the last fiscal.

For Q2, the total income of the FMCG major was reported at Rs 1,492.62 crore -- up 3.96 percent -- from Rs 1,435.75 crore posted during Q2 2016-17.

According to the company, a strong surge in the domestic consumer growth was reported during the second quarter of 2017-18 financial year with the GST headwinds settling down and improved consumer off-take in domestic markets.

"However, the overseas business performance was hit by a combination of steep currency devaluation in Egypt, Turkey and Nigeria, and the continued geopolitical disturbances in key geographies," it said in a statement.

On a consolidated basis, the company's net profit for Q2 2017-18 was up 1.20 percent at Rs 362.67 crore.

However, the total income fell by 1.33 percent to Rs 2,043.25 crore during the quarter ended September 30, 2017-18 from Rs 2,070.87 crore reported during the same period in 2016-17.

"We continue to invest behind our brands and are confident of our ability to report profitable growth, going forward. We have navigated the external business environment well," said Dabur India Chief Executive Officer Sunil Duggal.

"Our standalone operating profit for the quarter reported a 11.2 percent growth. The medium to long-term prospects, particularly for India, remain robust and we are confident that domestic consumer demand will gain pace in months to come," Duggal said.

The statement added that the Board of Directors declared an interim dividend of 125 percent for 2017-18.

"Continuing with our payout policy, the Board has declared an interim dividend of Re 1.25 per share, aggregating to a total payout of Rs 265.02 crore, including tax," said Anand Burman, Chairman of Dabur India.

At 2.15 p.m., the FMCG major's scrip on the BSE traded higher by 1.96 percent at Rs 327.75 per share.