: Aided by receding Covid fears and improved mobility, homegrown packaged consumer goods company Dabur reported underlying volume growth of 18.1% during the third quarter ended December 2020, also reporting its highest-ever quarterly revenue and profits.
The maker of Vatika shampoo and Chyawanprash reported standalone net profit increase of Rs 400 crore, a 21% increase over the corresponding year-ago quarter growth. Dabur’s standalone revenue increased 18.5% to Rs 2,071 crore.
Consumer goods companies including Dabur, HUL, Marico and
have reported healthy topline growth with urban demand reviving and rural growth continuing to be robust for the third quarter.
Dabur said its India FMCG business led the growth trajectory, with the domestic business reporting revenues of Rs 2,071 crore, an increase of 18.5% over the year-ago quarter. It attributed the numbers to benefits from distribution footprint enhancement, coupled with innovation.
Consolidated revenue for the quarter went up 16% to Rs 2,729 crore, up from Rs 2,353 crore a year earlier, while it reported consolidated net profit growth of 23.7% at Rs 492 crore compared to Rs 398 crore in the year-ago period.
“We are also witnessing revival in discretionary spending by consumers, which helped the home and personal care businesses grow by 16%,”
chief executive officer Mohit Malhotra said in an earnings statement.
The healthcare business continued to be the outperformer, growing by over 28% in the quarter.
Malhotra added while competitive intensity remained high, its focus on strengthening its core healthcare portfolio, expanding rural footprint and improving go-to-market enabled the company to grow ahead of categories and gain share.
The company also announced setting up a new subsidiary for manufacturing, sale and export of its consumer care products.