Moneycontrol
Last Updated : Feb 01, 2019 09:36 AM IST | Source: Moneycontrol.com

Dabur India rises 2% as on healthy Q3 performance

The FMCG company reported healthy numbers for October-December quarter as earnings beat analyst expectations on Thursday. Consolidated profit grew by 10.2 percent year-on-year to Rs 366 crore, which was ahead of CNBC-TV18 poll estimates of Rs 357 crore.

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Shares of Dabur India rose over 2 percent as investors reacted to the company’s Q3 results.

It touched an intraday high of Rs 454.10 and an intraday low of Rs 447.60.

The FMCG company reported healthy numbers for October-December quarter as earnings beat analyst expectations on Thursday. Consolidated profit grew by 10.2 percent year-on-year to Rs 366 crore, which was ahead of CNBC-TV18 poll estimates of Rs 357 crore.

Profit in corresponding period last fiscal stood at Rs 332 crore.

Consolidated revenue during the quarter increased 11.8 percent year-on-year to Rs 2,199 crore with healthy domestic volume growth at 12.4 percent against 13 percent in same period last year.

"Prudent cost management initiatives coupled with strong growth in the domestic market across our key business categories helped Dabur India Ltd mitigate the weaker economic indicators and macro-economic headwinds in some international markets to deliver a strong overall performance in the third quarter of 2018-19 financial year," the company said.

Deutsche Bank has maintained a buy call on Dabur India with a target at Rs 500 apiece.

The brokerage believes that a turnaround story is visible in consumer staples as the company is gaining from better execution and market share.

It sees a pickup in rural demand ahead. The company has one of the highest rural distribution each.

At 09:31 hrs Dabur India was quoting at Rs 449.95, up Rs 6.70, or 1.51 percent, on the BSE.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Feb 1, 2019 09:36 am
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