Dabur India Ltd Q3 net profit surges 23%

The Board of Directors of Dabur India Ltd (DIL) met here today to consider the unaudited financial results of the company for the quarter and the nine-month period ending December 31, 2007.

Riding on strong growth across key categories like Hair Care, Oral Care, Home Care and International Business, Dabur India Ltd recorded a 22.9% growth in its net profit during the third quarter of the 2007-08 financial year.

Net profit for the quarter stood at Rs 88.1 crores, up from Rs 71.7 crores in the same period last year.

Turnover for the quarter marked a 11.4% increase to Rs 525.35 crores from Rs 471.45 crores in the corresponding quarter of the previous fiscal.

For the nine-month period ending December 31, 2007, Dabur India net profit surged 22.3% to Rs 228 crores from Rs 186.4 crores in Q3 of 2006-07.

The turnover, during the same period, registered a growth of 12.4% to Rs 1378.85 crores from Rs 1226.58 crores a year earlier.

Dabur Foods Ltd, the market leader in fruit juices, posted a 21% increase in sales during the nine-month period ended December 31, 2007, with the Réal juice portfolio reporting a 23% growth.

"The merger of Dabur Foods Ltd with Dabur India Ltd is on track with the Honourable High Court of Delhi giving its final approval for the merger, with effect from April 1, 2007," Dabur India Ltd Chairman Dr Anand Burman said.

Dabur's overseas sales also recorded significant gains during the nine-month period, reporting a 29.4% surge in turnover.

While Dabur Egypt reported a robust 72% growth, sales in the GCC region increased 46% and sales in Pakistan recorded a 25% growth.

The quarter also saw Dabur establishing a new manufacturing facility in Nigeria, pushing sales growth in the market to 185%.

"We have built strong capabilities to tap emerging opportunities in the overseas markets. Our entry into new markets in the Middle East & North Africa region will only add to the growth momentum," said Duggal.