Note ban pulls down Dabur's Q3 profit 7.3%

Consolidated sales dipped 6.1% during the quarter to Rs 1,847.7 crore

Fast-moving consumer goods major Dabur’s net profit declined 7.3 per cent in the December quarter to Rs 295 crore from Rs 318 crore during the same quarter a year ago.

The company’s consolidated sales dipped 6.1 per cent during the quarter to Rs 1,847.7 crore from Rs 1,967.5 crore in the same period a year ago.

Demonetisation affected revenue as consumers cut down on discretionary spending. Dabur’s primary sales declined 7 per cent during the quarter.

“The wholesale trade was severely impacted by demonetisation and we witnessed massive destocking in the trade channel,” said Sunil Duggal, chief executive officer, Dabur