Despite a challenging macro-economic environment, Dabur India reported strong volume-driven growth across all its key categories; with skin and hair care both contributing to the double digit growth.
The manufacturer saw profits surge for the third quarter, with a 22 percent increase to Rs 211.11 Crore, and hair oils, hair care and skin care boosting figures.
The shampoo business for Dabur ended the third quarter with a strong 29.6 percent growth, while the Perfumed Hair Oils business reported a near 15 percent growth.
The Skin Care category reported a 15.7 percent growth during the quarter while the Oral Care business reported a 13.6 percent growth, and Health Supplements ended with a 12 percent growth.
“We have delivered another quarter of strong volume-led growth with an improvement in margins,” commented CEO Sunil Duggal.
“Dabur has been reporting strong and consistent performance despite Inflation playing truant and competitive pressures intensifying in some key categories.”
The company also mitigated the impact of high input costs with calibrated price increases and stringent cost management initiatives, aiding its figures.
Consolidated net sales also saw a double digit increase on last year, with growing demand in its products leading to more investment.
“Demand from the hinterland has been growing at a much faster pace and has more than made up for the slight moderation in demand from its urban counterparts,” continued Duggal.
“Dabur has made higher investment behind its brands during this quarter, which will reap dividend and help us drive demand for our products in months to come. Going forward, our focus will be on pursuing an aggressive and profitable growth strategy,” he added.
This investment saw the launch of a host of new products, which boosted figures further, such as the new Gulabari Saffron & Turmeric Cold Cream & Lotion.
Dabur’s International Business also continues to report good growth, led by strong performance in GCC, Egypt and Levant markets.
“The Levant business, which comprises Jordan, Lebanon & other neighbouring markets, reported a 36 percent growth, while sales in GCC markets grew by 22 percent. Going forward, we will continue to pursue an aggressive growth strategy,” said group director P D Narang.