FMCG major Dabur reported a 7.5 percent fall in consolidated net profit to Rs 293.76 crore for the third quarter of current fiscal. Net sales too declined 6.08 percent to Rs 1,847.67 crore.
Speaking to CNBC-TV18 after reporting the first quarter results, Dabur CFO Lalit Malik says some benefits of monsoons and implementation of the 7th pay commission might help lift volumes albeit at a slow pace during the second half of the year.
Demand, which continues to be weak, will improve only in the second half of FY17 on the back of pay hikes, monsoon and 24x7 opening of shops, says Lalit Malik, CFO of Dabur India.
The company which has ventured into online cosmetics and beauty products through NewU, run by its wholly-owned arm H&B Stores, is also working on another platform DaburUveda.com to enhance its presence in the e-commerce space.
Nepal earthquake and currency devaluation on account of economical and political disturbances in Middle East and North Africa (MENA) region- Turkey, Nigeria and Egypt - has impacted the overall margin growth to 7.9 percent, says Lalit Malik, CFO of the company.
Dabur India matched street expectations with the third quarter consolidated net profit rising 16.4 percent year-on-year to Rs 282.8 crore. Consolidated net sales grew 9.2 percent to Rs 2,074 crore during October-December quarter from Rs 1,899.6 crore in the year-ago period.
The fast moving consumer goods company expects steady growth in all categories for FY14, says Dabur India's Lalit Malik.
Eicher Motors will invest over Rs 900 crore over the next 2-3 years towards various expansion plans, including a new medium duty engine plant in joint venture with Sweden’s Volvo Group and a new manufacturing plant near Chennai for its Royal Enfield motorcycles.