New Delhi, May 1 (PTI) Homegrown FMCG major Dabur India today reported a flat consolidated net profit at Rs 333.11 crore for the fourth quarter ended March 31, hit by currency volatility and economic turmoil in key markets.
The company had posted a net profit of Rs 331.48 crore in the January-March period of the last fiscal, Dabur India said in a BSE filing.
Its total income for the quarter under review was down 4.08 per cent to Rs 1,979.72 crore as against Rs 2,063.93 crore in the corresponding quarter a year ago.
Dabur’s total expenses were down 5.81 per cent to Rs 1,548.32 crore as against Rs 1,643.83 crore.
“The business faced tough economic environment characterised by extreme volatility in currency, particularly in Egypt and North African markets, as well as crude-led economic turmoil in Saudi Arabia,” Dabur India CEO Sunil Duggal said.
In constant currency terms, Dabur’s consolidated net sales remained flat for the fourth quarter, he added.
“Demand growth, still reeling under the impact of demonetisation, remained slow at the beginning of the quarter.
However, it improved as the quarter progressed, led by a significant improvement in rural demand,” Duggal said.
Its revenue from consumer care business was down 6.78 per cent to Rs 1,550.84 crore in the fourth quarter of FY 2016-17 as against Rs 1,663.76 crore in the corresponding quarter a year ago.
The revenue from food business was at Rs 298.01 crore, up 8.17 per cent as against Rs 275.48 crore.
For the entire 2016-17 fiscal, its net profit stood at Rs 1,276.94 crore, up 2.06 per cent, from Rs 1,251.15 crore in the previous financial year.
Its total income for the fiscal stood at Rs 7,999.79 crore, down 1.06 per cent, compared to Rs 8,085.96 crore in the previous year.
The board of the company today recommended a final dividend of 100 per cent, taking the total dividend for 2016- 17 to 225 per cent, the company said in a statement.
This is published unedited from the PTI feed.