Dabur India shares drop 3% on missing estimates in Q3FY18 net profit
Analysts at ZeeBusiness estimated Dabur’s net profit and revenue this quarter, at Rs 355 crore and Rs 2,090 crore respectively.
FMCG-player Dabur India missed analysts estimates during December 2017 (Q3FY18) quarter performance, despite reporting growth in both consolidated top-line and bottom-line on yearly basis.
Dabur recorded consolidated net profit of Rs 333.03 crore in Q3FY18, rising by 13.02% from Rs 294.67 crore in the corresponding period of the previous year.
However, Q3FY18 net profit declined by 8.17% compared to net profit of Rs 362.67 crore in the preceding quarter.
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Consolidated revenue came in at Rs 1,966.44 crore - witnessing growth of 6.13% from Rs 1,852.91 crore in Q3FY17 and gradually up by 0.38% versus Rs 1,958.93 crore in Q2FY18.
Analysts at ZeeBusiness estimated Dabur’s net profit and revenue this quarter at Rs 355 crore and Rs 2,090 crore respectively.
Under consolidated segment-wise break up, consumer care business was sole best performer, by registering 8.60% growth to Rs 1,696.86 crore in Q3FY18 from Rs 1,562.52 crore in Q3FY17.
While other segments reported decline during the quarter. Food business tumbled by 3.84% year-on-year (YoY) to Rs 210.69 crore, retail business was also down by 9.71% yoy to Rs 32.09 crore and others dropped by 32.84% yoy to Rs 20.49 crore.
For nine month of FY18, consolidated net profit was at Rs 960.56 crore - sequentially up by 1.47% yoy, on the other hand revenue stood at Rs 5,715.43 crore down by 1.23% on yearly basis.
On standalone basis, Dabur’s performance was good in Q3FY18, with net profit growing by 15.92% yoy to Rs 265.47 crore, while revenue came in at Rs 1,449.31 crore above 12.88% yoy.
Post Q3FY18 announcement, the share price of Dabur dropped by nearly 3%. However at around 1407 hours, the company was trading at Rs 349.80 per piece down Rs 9 or 2.44%.