Dabur India said its consolidated net profit grew by 23.7 per cent to ₹492 crore for the quarter ended December 31, 2020, from ₹398 crore in the corresponding quarter of previous fiscal.
Consolidated revenues for the quarter under review stood at ₹2,729 crore, up 16 per cent, led by strong growth in India FMCG business.
"The benefits from its distribution footprint enhancement initiatives, coupled with strong innovation to meet the emerging consumer needs, helped Dabur end the third quarter of 2020-21 with its highest-ever quarterly revenue and profits," the homegrown FMCG company said in a statement.
It added that the Indian FMCG business registered a growth of 19.5 per cent with underlying volume growth of nearly 18 per cent in the quarter under review.
On Friday, Dabur India's board also approved setting up a wholly-owned subsidiary in India, which will focus on manufacturing consumer care products for exports.
In a statement, Mohit Malhotra, CEO, Dabur India, said, "Riding on our strategic business transformation exercise aimed at developing aggressive growth engines in the core business areas, our domestic healthcare vertical ended the quarter with a 28 per cent growth. We are also witnessing a revival in discretionary spending by consumers, which helped the home & personal care business grow by 16 per cent."
He added that the company's international business has also "staged a smart recovery" and reported a growth of 13.5 per cent in the third quarter.
"While competitive intensity remained high, we have successfully tapped the growth opportunities to deliver a strong performance during the quarter," Malhotra said.
New CFO announced
Meanwhile, in a BSE filing, the company announced Ankush Jain's appointment as the new Chief Financial Officer with effect from April 1. He is currently working as the Vice-President-Financial Planning and Analysis and will succeed Lalit Malik who is stepping down from his position to pursue a career outside the company.