Dabur India Q3 PAT rises 24% YoY to Rs 493 cr

On a consolidated basis, Dabur India reported a 23.72% jump in net profit to Rs 492.02 crore on a 16% rise in revenue from operations to Rs 2,728.84 crore in Q3 FY21 over Q3 FY20.

Consolidated profit before tax rose 22.5% year on year to Rs 591 crore in Q3 FY21 from Rs 482.34 crore in Q3 FY20. Current tax expense spiked 15.55% to Rs 99.13 crore in Q3 FY21 over Q3 FY20.

Dabur said consolidated operating profit saw a growth of 16.5% year on year and stood at Rs 574 crore in Q3 FY21. The company's operating margin saw an improvement of 10 basis points, reaching 21% in Q3 FY21. EBITDA grew 15.5% to Rs 655.1 crore in Q3 FY21 over Q3 FY20.

Dabur's India FMCG business led the growth with a 19.5% surge, with an underlying FMCG volume growth of 18.1% during the quarter. Dabur's standalone revenue rose 18.5% to Rs 2,071 crore while standalone net profit marked a 21.1% growth to Rs 400 crore.

The healthcare business continued to be the outperformer, growing by over 28% in Q3 of 2020-21. The shampoos category reported a 27% growth, while the oral care business grew by 28% and hair oils by around 12%. Dabur's foods business too marked a turnaround during the quarter with a 5% growth. Excluding the Institutional and HORECA business, which continues to be under pressure, Dabur's Foods business ended the quarter with a 16% growth.

International business staged a smart recovery and reported a growth of 13.5% in rupee terms and 14.1% in constant currency terms. The Turkey business grew by 33%, while the SAARC business was up 16%. The MENA business posted a growth of 11.6%, while Egypt grew by 9.5% and the Namaste business in US reported a 9% growth.

"With the COVID fears receding and mobility improving, we have reported a stellar performance during the quarter with strong Revenue and Profit growth. Riding on our strategic business transformation exercise aimed at developing aggressive growth engines in the core business areas, our domestic Healthcare vertical ended the quarter with a 28% growth. We are also witnessing a revival in discretionary spending by consumers, which helped the home & personal care business grow by 16%. Our international business has also staged a smart recovery and reported a growth of 13.5% during the quarter," Dabur India chief executive officer, Mohit Malhotra said.

"While competitive intensity remained high, we have successfully tapped the growth opportunities to deliver a strong performance during the quarter. Our focus on strengthening our core Healthcare portfolio with heavy investments behind our Power Brands, coupled with investment in expanding our rural footprint and enhancing our go-to-market approach, continues to serve us well. This has enabled us to grow ahead of categories and gain market share across our portfolio," Malhotra added.

Meanwhile the company has announced an interim dividend of Rs 1.75 per equity share.

Shares of Dabur were down 2.05% at Rs 516.80. The company operates in various product categories, such as hair care, oral care, healthcare, skin care, home care and foods. Its business units include consumer care business, foods business and international business.

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