FMCG major Dabur India Ltd on Thursday reported a standalone net profit of Rs 289 crore Q1 2020-21, up 12 per cent from Rs 258 crore a year earlier.
The revenue stood at Rs 1,491 crore as against Rs 1,628 crore a year ago. Dabur also continued to gain market share across all key categories like Chyawanprash, toothpaste, packaged juices and nectars during the quarter.
"We entered the Covid-19 crisis from a position of strength. We were growing at a steady pace when the pandemic brought business to a standstill," said Chief Executive Officer Mohit Malhotra.
"Amid this challenging business environment, we quickly revamped our portfolio to meet the growing consumer need for quality preventive healthcare, personal hygiene and household hygiene products while enhancing production of our existing Ayurvedic immunity boosters like Dabur Chyawanprash and Dabur Honey." The quarter saw a nearly seven-fold growth in demand for Dabur Chyawanprash and over 60 per cent surge in demand for Dabur Honey.
"Dabur has significantly ramped up capacity with production now at near-normal levels and the business poised to deliver growth for the rest of the year," said Malhotra.
The company's health supplements business reported 53 per cent growth during Q1 FY21 while OTC healthcare business ended the quarter with 34 per cent growth and Ayurvedic ethicals business was up 11 per cent.
The toothpaste business, on the back of continued demand for Dabur Red Paste, ended the quarter with nearly 3 per cent growth.