New Delhi, May 27 (PTI) Homegrown FMCG major Dabur India Ltd on Wednesday reported a 24.19 per cent decline in consolidated net profit at Rs 281.60 crore for the fourth quarter ended March due to severe disruptions caused by COVID-19 and the subsequent lockdown.
The company had posted a consolidated net profit of Rs 371.49 crore in January-March quarter a year ago, Dabur India said in a regulatory filing.
Its revenue from operations was down 12.34 per cent to Rs 1,865.36 crore during the quarter under review, as against Rs 2,128.19 crore in the corresponding quarter of the previous fiscal.
“Dabur opened the fourth quarter on a positive note, successfully tapping the growth opportunities. However, the COVID-19 outbreak in March, followed by the nationwide lockdown, caused severe disruptions in our business and brought sales to a virtual standstill in the second fortnight of March 2020,” Dabur India CEO Mohit Malhotra said.
Malhotra further said that “with most of products across our Health Care, Home & Personal Care and Foods portfolio falling in the non-essential category, the pre-season sales of summer skewed products to meet the seasonal demand was severely impacted”.
According to the company, it was on “track to deliver a 4.5 per cent growth in quarterly revenue and 12.5 per cent growth in net profit before exceptional, had COVID-19 not happened”.
Dabur’s revenue from consumer care business segment was down 11.08 per cent to Rs 1,590.38 crore as against Rs 1,788.56 crore in the year-ago period.
Food business revenue declined 21.36 per cent to Rs 219.44 crore, as compared with Rs 279.07 crore in the year-ago period.
Revenue from retail business decreased 10.13 per cent to Rs 28.27 crore, from Rs 31.46 crore in the corresponding period of previous year.
While, revenue from other segments was down 4.47 per cent to Rs 20.47 crore, as against Rs 21.43 crore a year-ago.
Dabur India’s total expenses in Q4/FY 2019-20 was at Rs 1,580.49 crore, as against Rs 1,729.59 crore, down 8.62 per cent.
For the fiscal year 2019-20, net profit was almost flat at Rs 1,447.92 crore. It stood at Rs 1,446.25 crore in the previous year.
“The 2019-20 net profit was impacted by one-time impairment in value of investments to the tune of Rs 100 crore. Excluding this impairment, the net profit for the year marked a 5.8 per cent growth year-on-year,” said Dabur India in a post earning statement.
Its revenue from operation in fiscal was Rs 8,703.59 crore, up 1.99 per cent. It was Rs 8,533.05 crore in 2018-19.
“Continuing with our Dividend Payout policy, the Board has proposed a dividend of Rs 1.60 per share, aggregating to Rs 282.74 crore,” Dabur India Ltd Chairman Amit Burman said.
Shares of Dabur India settled at Rs 428.75 on BSE, down 1.04 per cent from the previous close.