Dabur India Q1 net profit dips 10% to ₹264.86 cr

FMCG major Dabur India on Friday reported a 9.80 per cent decline in consolidated net profit at Rs 264.86 crore for the first quarter ended June on account of de-stocking by trade partners ahead of GST rollout.

The company had posted a net profit of Rs 293.64 crore in the April-June period of the last fiscal, Dabur India said in a BSE filing.

Total income during the quarter under review was down 7.04 per cent to Rs 1,871.34 crore, as against Rs 2,013.23 crore in the corresponding quarter a year ago.

"Sales plunged in June across all consumer categories in view of the massive de-stocking by trade channels just ahead of the implementation of the GST. The overseas markets also continued to face severe headwinds with currency devaluations and economic turmoil in key geographies," Dabur said.

Dabur's total expenses were down 7.03 per cent to Rs 1,533.51 crore, as against Rs 1,649.54 crore.

Its revenue from consumer care business was down 9.06 per cent to Rs 1,425.10 crore in the first quarter of FY 2017-18 as against Rs 1,567.16 crore in the corresponding quarter a year ago.