Homegrown FMCG major Dabur India today reported a decline of 7.5 per cent in consolidated net profit at Rs 293.76 crore for the third quarter ended December 31, 2016 on demonetisation and currency fluctuations woes. The company had posted a net profit of Rs 317.58 crore in October-December period of last fiscal, Dabur India said in a statement. Net sales was also down 6.08 per cent during the period under review to Rs 1,847.67 crore as against Rs 1,967.48 crore of the corresponding quarter of the previous fiscal. "The quarter ended December 31, 2016 was marked by a demonetisation-led liquidity squeeze that further impacted the already soft consumer demand across key FMCG categories.
This coupled with the global headwinds in the form of currency fluctuations and rising cost of key inputs led to Dabur ending the third quarter of 2016-17 financial year with consolidated Net Sales of Rs 1,847.7 crore," Dabur said in the statement.
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Homegrown FMCG major Dabur India today reported a decline of 7.5 per cent in consolidated net profit at Rs 293.76 crore for the third quarter ended December 31, 2016 on demonetisation and currency fluctuations woes. The company had posted a net profit of Rs 317.58 crore in October-December period of last fiscal, Dabur India said in a statement. Net sales was also down 6.08 per cent during the period under review to Rs 1,847.67 crore as against Rs 1,967.48 crore of the corresponding quarter of the previous fiscal. "The quarter ended December 31, 2016 was marked by a demonetisation-led liquidity squeeze that further impacted the already soft consumer demand across key FMCG categories.
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