Dabur's post-result rally halts on profit taking

Dabur India fell 1.55% to Rs 342.70 at 15:08 IST on BSE, with the stock's post-result rally halting on profit booking.

Meanwhile, the S&P BSE Sensex was down 14.25 points or 0.04% at 33,586.02.

On the BSE, 54,000 shares were traded on the counter so far as against average daily volumes of 3.02 lakh shares in the past two weeks. The stock had hit a high of Rs 351.80 and a low of Rs 340.85 so far during the day.

Shares of Dabur India had rallied 8.29% in two trading sessions to settle at Rs 348.10 yesterday, 1 November 2017, from its closing of Rs 321.45 on 30 October 2017 after the company reported good Q2 September 2017 results during market hours on 31 October 2017.

Dabur India's consolidated net profit adjusted for GST and currency translations grew by 7.2% to Rs 361.90 crore on 8% growth in revenue to Rs 1958.90 crore in Q2 September 2017 over Q2 September 2016.

With the GST headwinds settling down and improved consumer offtake in domestic markets, Dabur India reported a strong surge in the domestic consumer growth during Q2 September 2017. However, the overseas business performance was hit by a combination of steep currency devaluation in Egypt, Turkey and Nigeria, and the continued geopolitical disturbances in key geographies, Dabur said in a statement.

Dabur India's chief executive officer Sunil Duggal said that the company has lined up a number of exciting initiatives and are committed to aggressively launch new products leveraging on its Ayurvedic heritage and cutting-edge science.

Dabur India's board declared interim dividend of Rs 1.25 per share for the year ending 31 March 2018 (FY 2018).

Dabur India is one of India's leading FMCG companies.

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