Q1FY24 Quarterly Result Announced for Dabur India Ltd.
Personal Products company Dabur India announced Q1FY24 results: Consolidated revenue growth of 11% for Q1FY24 to cross the Rs 3,000 crore mark for the first time in the first quarter, driven by strong double-digit growth in both HPC and HC businesses. The Q1FY24 revenue growth stands at 13.3% on a Constant Currency basis. Dabur reported an 11% growth in consolidated revenue at Rs 3,130 crore, up from Rs 2,822 crore in Q1FY23, with an underlying volume growth of 3% in the India FMCG business. Dabur's operating profit saw a growth of 11.2%. Dabur ended Q1FY24 with a 5.3% growth in consolidated net profit at Rs 464 crore, up from Rs 440.3 crore Q1FY23. Net Profit excluding amortisation related to the Badshah acquisition reported an 8% growth. Dabur's international business reported a 20.6% growth in constant currency terms "We remain committed to our strategy of superior go-to-market execution by enhancing our distribution footprint while focusing on driving growth for our Power Brands and building an agile organization culture in our pursuit of sustainable, balanced growth and value creation. We have initiated several measures to pursue greater efficiency and the gains were ploughed back in the form of higher investments in our brands to drive demand. Our media spends grew by 30% in the Consolidated business and by 28% in the India business," Chief Executive Officer Mohit Malhotra said. "We continue to see strong consumer engagement with our brands, helping them grow significantly ahead of the market and report market share gains across 90% of the portfolio. With the inflation softening, we have seen our rural growths bounce back to high single digits after three quarters. While rural growth continues to lag urban demand, the gap has reduced significantly. We continue to strengthen our long-term competitiveness through investments in developing consumer-centric innovations and technology, as we deliver on our purpose of health and well-being for every household," Malhotra added. Result PDF03-08-2023
