Dabur FY23Q1 revenue crosses Rs 3,000-crore mark, up 11%
Dabur India has announced an 11% growth in consolidated revenue for the first quarter of 2023-24 to cross the Rs 3,000-crore mark for the first time in the first quarter, driven by strong double-digit growth in both HPC and HC businesses. The Q1 revenue growth stands at 13.3% on a constantnt currency basis.
07 Aug 2023 | By Abhay Avadhani
The financial year 2023-24 began on a strong note, reflecting the successful execution of its business and go-to-market strategies to deliver a robust performance during the first quarter of the year. Dabur reported an 11% growth in consolidated revenue at Rs 3,130-crore, up from Rs 2,822-crore a year ago, with an underlying volume growth of 3% in the India FMCG business.
Dabur’s operating profit saw a growth of 11.2%. The company ended the first quarter of 2023-24 with a 5.3% growth in consolidated net profit at Rs 464-crore, up from Rs 440.3-crore a year earlier. Net profit, excluding amortisation related to Badshah acquisition reported an 8% growth.
“We remain committed to our strategy of superior go-to-market execution by enhancing our distribution footprint while focusing on driving growth for our power brands and building an agile organisation culture in our pursuit of sustainable, balanced growth and value creation. We have initiated several measures to pursue greater efficiency and the gains were ploughed back in the form of higher investments behind our brands to drive demand. Our media spends grew by 30% in the Consolidated business and by 28% in the India business,” Mohit Malhotra, chief executive officer, Dabur India, said.
He added, “We continue to see strong consumer engagement with our brands, helping them grow significantly ahead of the market and report market share gains across 90% of the portfolio. With the inflation softening, we have seen our rural growths bounce back to high single digits after three quarters. While rural growth continues to lag urban demand, the gap has reduced significantly. We continue to strengthen our long-term competitiveness through investments in developing consumer-centric innovations and technology, as we deliver on our purpose of health and well-being for every household.”