Dabur shares declined after the Indian consumer goods company on Thursday reported mid-single-digit revenue growth in its Q3FY23 results update. The shares of the company had declined by 3.25 per cent. 530.15 per share today on BSE in intraday trading. The FMCG major did not perform well in the third quarter of FY23 as well. Dabur reported a 5.49 per cent decline in its consolidated net profit in Q3FY23.
Dabur’s F&B business is expected to grow at a robust level and post strong-double-digit growth, the company said in its stock filing. It also indicated growth in its healthcare portfolio. Dabur’s HPC business, however, continues to suffer losses as the personal care categories are expected to register low single-digit-revenue growth due to slowdown. The company showed mid-single-digit net profit in the last quarter of FY23.
“The demand trajectory in both urban and rural markets in India has shown a slight improvement sequentially. However, it falls short of a full recovery. While urban markets have returned to positive volume growth, rural markets are still muted,” the company said. its filing.
During the quarter under review, Dabur strengthened its Badshah spice business.
The international business of the company was affected due to adverse currency conditions in Egypt and Turkey. The FMCG major also reported infusing funds into its brands and restructuring the distribution network for long-term profitability.
The company also highlighted its plans to continue investing in its power brands, innovation, distribution and expansion.
In third quarter In FY23, Dabur’s consolidated revenue grew by 3.44 percent 3,043.17 crore from 2,941.75 crore a year ago. Its EBITDA (earnings before interest, taxes, depreciation and amortization) fell 2.7 percent. 620 crores.
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