Dabur India's Q4FY17 net profit at Rs 333.11 crore; proposes dividend up to Rs 212 crore
Dabur India reported marginal year-on-year growth in its consolidated net profit for the fourth quarter ended March 31, 2017 result.
The company registered consolidated net profit of Rs 333.11 crore, sequentially up by 0.49% compared to Rs 331.48 crore in the corresponding period of the previous year.
However, this net profit was higher by 13.39% from Rs 293.76 crore recorded in the preceding quarter.
Consolidated total income stood at Rs 1,979.72 crore, which was down by 4.08% year-on-year (YoY) but up by 2.25% quarter-on-quarter (QoQ) basis.
Sunil Duggal Chief Executive Officer of Dabur India said, "The business faced tough economic environment characterized by extreme volatility in currency, particularly in Egypt and North African markets, as well as crude-led economic turnoil in Saudi Arabia. In the constant currency terms, consolidated net sales remained flat for the fourth quarter. Demand growth, still reeling under the impact of demonetisation, remained slow at the beginning of the quarter."
On segment wise revenue break-up, consolidated consumer business saw 6.78% decline at Rs 1,550.84 crore this Q4. Meanwhile, food business contributed growth of 8.18% to Rs 298.01 crore and retail business was at Rs 30.76 crore up by 3.15%.
For the entire financial year 2016-17 (FY17), consolidated net profit saw 2.06% yoy growth to Rs 1,276.94 crore. However, total income saw decline of 1.06% yoy to Rs 7,999.79 crore.
Duggal added, "However, it improved as the quarter progressed, led by a significant improvement in rural demand. Out India FMCG business ended the quarter with 2.4% volume growth. Riding on our focus on operating efficiencies and judicious cost management, EBITDA margin also increased by 190 basis points."
On standalone-front, net profit was at Rs 302.23 crore growing by 5.25% yoy, while total income stood at Rs 1,494.84 crore up by 0.93%.
In its meeting held on Monday, the company's board of directors recommended a final dividend of 100% which brings total dividend for the year to 225. It has also proposed a final dividend of Re 1 per share aggregating up to Rs 212.01 crore including dividend tax."
Lastly, Duggal said, "We have taken steps to efficiently manage the emerging risks and challenges, leveraging our strong herbal and ayurvedic heritage."