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Dabur India Ltd Q1 profit down 6%

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Packaged consumer goods company Dabur India on Thursday reported a 6% decline in June quarter consolidated net profit at 341.30 crore down from 363.81 crore a year earlier.

The maker of Real Juices and Vatika hair oil reported 12.9% drop in consolidated revenue from operations at 1,979.98 crore down from 2,273.29 crore its reported a year ago.

The company’s domestic FMCG business saw a decline of 6.9% due to the lockdown in April in the first quarter of FY21. While domestic volumes declined by 9.7%, the company said.

Revenues in its international business declined by 21.6%, the company said in an investor communication.

Covid-19 induced lockdowns and subsequent disruptions in trade channels impacted business across several segments the company operates in.

This was especially true for its home and personal care category as shoppers went easy on discretionary purchases such as shampoos and hair oils in the June quarter. Its food portfolio—beverages under Real Juices and culinary brands was impacted too.

The company’s home and personal care business was down 15% year-on-year during the quarter; while the foods business was down 34.4% year-on-year to 203 crore during the first quarter.

However, its healthcare segment, that contributes 37.6% to the company’s sales, benefited with consumer pivot to local remedies and immunity building products.

Healthcare segment was up 29.2% at 532 crore during the quarter. Under the segment, the healthcare supplements business was up 52.6% led by growth in its Chyawanprash brand—that was up 700% during the quarter and honey. Dabur Chyawanprash saw a 700 bps increase in market share, while Dabur Honey gained 300 bps share in the market.

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