Dabur India shares gain over 5% after Q4 net profit increases 16% YoY
Upstox
2 min read • Updated: May 2, 2024, 3:56 PM
Summary
The company’s Board of Directors at its meeting on May 2 recommended a final dividend of ₹2.75 per equity share for the financial year 2023-2024.
Homegrown FMCG major Dabur India Ltd on Thursday, May 2, reported a 16% rise in its consolidated net profit to ₹341.22 crore for the March quarter of FY24 compared to ₹292.76 crore in the year-ago period.
According to a company filing, revenue from operations rose by 6% to ₹2,814.64 crore in the last quarter of FY24 compared to ₹2,677.8 crore in the year ago period.
Expenses were marginally higher at ₹2,490.43 crore in the March quarter against ₹2,402 crore in the last quarter of FY23.
Consolidated net profit for FY 2023-24 rose by 7.9% to ₹1 ,843 crore compared to ₹1,707 crore a year ago.
Consolidated revenue crossed the ₹12,000 crore mark to end the financial year at ₹12,404 crore. This marks a 7.6% rise over the previous year's ₹11,453 crore.
Commenting on the results, Dabur India Limited CEO Mohit Mathotra said, “We have been investing heavily behind our brands, which increased by 33%, to drive demand and also sustain the growth momentum. This has helped us deliver steady sales and profit growth in the fourth quarter despite multiple headwinds. We continued to execute on our strategic playbook by driving operational excellence, delivering innovative and premium products, and expanding our retail footprint to build the foundation for long-term profitable, sustainable growth.”
The company informed the bourses that premium products currently make up 18% of its portfolio. The FMCG business segment in India saw a volume growth of 5.5% in FY24.
The India Business saw key brands and products post category-leading growths with market share gains across 95% of the portfolio.
The company’s mosquito repellent brand Odomos reported a 677 bps gain in market share while Chyawanprash reported a 13 bps rise in market share. Among other products, Hair Oil segment saw a 115 bps increase, Honitus also marked a 114 bps market share gain while Juices and Nectars category saw a 53 bps market share gain, Dabur India said in a statement.
The company’s Board of Directors at its meeting on May 2 also recommended a final dividend of ₹2.75 per equity share for the financial year 2023-2024.
Dabur India shares closed at ₹528 apiece, up 4.11% on the NSE.