Q3 Results 2023: Dabur India Limited today reported a 5.4 per cent drop in consolidated net profit for the quarter ended 31 December 2022.  Profit After Tax (PAT) for the reporting quarter stood at of Rs 476 crore as against Rs 503.30 crore posted by the company in the year ago period. The dent was on the back of inflationary pressure which was more pronounced in the rural parts of the country.

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The 3-year PAT CAGR stood at 6 per cent, the company said in its filing to the exchanges.

The result was announced during market hours. The Dabur shares ended at Rs 555 on the NSE and were down by Rs 7 or 1.24 per cent from the Wednesday closing price.    

The fast moving consumer goods company reported a 3.4 per cent growth in consolidated revenue for the Quarter ended December 31, 2022, breaching the Rs 3,000-crore mark notwithstanding highly challenging cost and operating environment, the company said in its exchange filing. In constant currency  terms, the consolidated revenue was up 5.7 per cent.

“Dabur lndia Ltd braved the inflationary pressures, significant moderation in industry growth and dip in overall consumer sentiments to deliver a competitive growth of 3.4 per cent in Consolidated Revenue for the third quarter of 2022-23 at Rs 3,043 crore,” the exchange filing said. The international business reported 4 per cent growth in constant, the filing said further.

"The impact of inflationary pressures was more pronounced in the rural markets as marked downtrading and shift to more affordable and smaller packs led to rural growth lagging urban markets for the second quarter in a row for Dabur,” Chief Executive Officer Mohit Malhotra said.

He was hopeful of demand slump in rural having bottomed out and company seeing some green shoots of revival in demand in the hinterland.

Other Highlights

1) Dabur's Home care business ended the quarter with an 18.2 per cent growth.

2) The Ayurvedic OTC business grew by 16.8 per cent in Q3

3) Digestives category reported a 11.2 per cent growth.

4) Dabur's Food & Beverages business reported a 6.4 per cent growth during the quarter, while the Toothpaste business, led by steady demand for the flagship Dabur Red paste, ended the quarter with a 3.2 per cent growth.

5) Dabur posted market share gains across the portfolio, led by a 250bps improvement in Juices & Nectars market share.

6) Dabur reported a 70bps market share gain in Hair Oils to touch the highest-ever 16.2 per cent.

7) Dabur's share in the Chyawanprash category improved by 30bps.

8) Dabur also reported a 40bps increase in Shampoo market share.

9) lnternational business reported a growth of 14 per cent in Constant Currency terms, with a 3-Year CAGR of 14.1 per cent.

Earlier today, Indian frontline indices S&P BSE Sensex and NSE Nifty50 traded in a range on Thursday. Moving in a 780 points range, Sensex, settled at 59,932.24, up 224.16 points or 0.38 per cent. The index gained on surge witnessed in ITC and Infosys stocks. Meanwhile, broader market Nifty50 which traded within 200 points, closed at 17,610.40, down by 5.90 per cent 0.03 per cent. Banking gauge Nifty Bank finished 156 points or 0.39 per cent higher at 40,669.30.

India VIX, a measure of volatility in Nifty closed 6.24 per cent lower at 15.73.