Dabur India lost 2.93% to Rs 177.15 at 14:52 IST on BSE after consolidated net profit rose 23.4% to Rs 249.74 crore on 14.9% growth in net sales to Rs 1749 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 28 October 2013.
Meanwhile, the S&P BSE Sensex was down 81.36 points or 0.39% at 20,602.16.
On BSE, 3.46 lakh shares were traded in the counter as against average daily volume of 1.09 lakh shares in the past one quarter.
The stock was volatile. The stock lost as much as 3.36% at the day's low of Rs 176.35 so far during the day. The stock rose as much as 1.31% at the day's high of Rs 184.90 so far during the day, which is also its record high for the counter. The stock had hit a 52-week low of Rs 120.90 on 23 November 2012.
The stock had outperformed the market over the past one month till 25 October 2013, surging 9.12% compared with the Sensex's 4.17% rise. The scrip had also outperformed the market in past one quarter, advancing 6.79% as against Sensex's 4.44% rise.
The large-cap FMCG firm has equity capital of Rs 174.38 crore. Face value per share is Rs 1.
Shares of Dabur India had witnessed a pre-result rally. The stock had rallied 9.47% in six trading sessions to settle at Rs 182.50 on Friday, 25 October 2013, from a recent low of Rs 166.70 on 17 October 2013.
Dabur India said that strong demand from the hinterland following the mega initiative to double the company's rural distribution footprint helped Dabur India sail through a challenging business environment and moderation in consumption expenditure in Q2 September 2013. A combination of innovative consumer-connect initiatives and relentless market development drive helped Dabur India report stronger growth across key categories like Home Care, Health Supplements, Shampoos, Foods, Skin Care and Oral Care, the company said in a statement.
Dabur India's operating profit margin (OPM) edged higher at 18.76% in Q2 September 2013, from 17.02% in Q2 September 2012.
Dabur India Chief Executive Officer Mr. Sunil Duggal said: "The rising cost pressures were managed through a mix of judicious price increases and improved buying efficiencies. There are signs of an economic downturn, but Dabur maintained its strong growth momentum and continues to register sales growth ahead of the market in several key categories. With our rural expansion programme, we have laid the foundation for strong and profitable growth in the future and this initiative started yielding positive results. We are seeing demand from rural India outpacing the urban markets".
The Home Care business for Dabur, led by the air freshener brand Odonil, continued to move forward on its growth trajectory and ended the quarter with a 25.3% growth. The Foods business also reported another strong quarter with a 22% growth, while the Oral Care category ended the three-month period with a near 19% growth and the Health Supplements business grew by around 17%. The Skin Care business grew by over 17% while the Shampoo business reported an over 13% growth. The quarter saw Dabur launch a host of new products and variants across geographies, all of which have received good response, Dabur India said in a statement.
Dabur's International Business recorded a growth of 25.8% during the second quarter, led by robust performance in Middle East & North Africa (MENA) markets and Bangladesh. "Hair Care and Toothpastes were the key growth drivers for Dabur in the international markets," Dabur India Group Director Mr. P D Narang said.
Dabur India is one of India's leading FMCG companies. Dabur operates in key consumer product categories like hair care, oral care, health care, skin care, home care and foods.
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