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Consolidated Net Profit for Q2 of 2020-21 surged 19.5%
Dabur India reported a strong growth in its performance for the second quarter of 2020-21, backed by sustained efforts in driving demand for its Ayurvedic Healthcare, Hygiene and Nutrition products, coupled with strong innovation to meet the emerging consumer needs in the wake of the COVID pandemic. Dabur ended Q2 2020-21 with a 13.7% growth in Consolidated Revenue at Rs 2,516 Crore, up from 2,212 Crore a year earlier. This is the highest Revenue growth reported by the Company in the last couple of years.
Consolidated Net Profit for Q2 of 2020-21 surged 19.5% to Rs 481.7 Crore as against Rs 403 Crore a year earlier.
Dabur’s India FMCG Business led the growth with a 19.8% surge, with an underlying FMCG Volume Growth of 16.8% during the Second Quarter of 2020-21. Dabur’s Standalone Net Profit grew 20.6% to Rs 392.7 Crore as against Rs 325.5 Crore a year earlier.
“While COVID-19 continues to impact people around the world, Dabur India Ltd’s strategic business transformation exercise to develop and implement aggressive growth strategies in the core business areas and successfully address the emerging challenges helped us deliver a healthy topline growth accompanied by an expansion in Margin. Our domestic Healthcare business reported a strong 49% growth, with the recent consumer-relevant innovations contributing to around 5-6% of our Revenue. Our International Business has also staged a smart recovery and reported a growth of 5.5% despite the key GCC market continuing to face macro-economic headwinds,” Mohit Malhotra, CEO, Dabur India Limited said.
Malhotra said, continued to focus on strengthening its core Healthcare portfolio with the introduction of new innovations, coupled with heavy investments behind its Power Brands and expanding its distribution might. This has enabled the Company to grow ahead of categories and gain market share across the portfolio. As Dabur continued to move forward on its distribution expansion strategy in the hinterland, rural demand grew ahead of urban. Favourable Monsoon and enhanced stimulus announced by the Government as part of its overall thrust on boosting rural Economy is expected to further drive rural demand in the coming months. The e-commerce business for Dabur grew by over 200% in Q2 of 2020-21 and today has a saliency of 6% as compared to 2.1% a year earlier.
“Healthcare, particularly the portfolio of our immunity-boosting products, continues to be the outperformer for Dabur. This is also in line with our strategy of focusing on the Consumer Health categories,” Malhotra said.
The Health Supplements business for Dabur reported a 70.8% growth during Q2 of 2020-21. The Ayurvedic OTC range grew by over 56% while the Ayurvedic Ethicals business ended Q2 with an over 26% growth.