Dabur share price’s four-session-long gaining streak was halted on Thursday as the company posted its Q4FY23 business updates.
What Happened: The company on early Thursday released its Q4 business updates and the stock slumped as soon as the updates made headlines. Dabur share price which had already started the day in red saw a sharp slump after the announcement was made at around 10:00 am.
The company in a regulatory filing said that while demand improved in both urban and rural markets it still falls short of a full recovery. “While urban markets have returned to positive volume growth, rural markets still remain muted,” the company further added.
Taking this into account the company added that it expects domestic business to post mid-single-digit-revenue growth. As per the company, the overall revenue for Dabur is also estimated to witness similar growth in revenue.
Talking about international business, the company said that revenue growth is expected to register high single-digit growth in constant currency. However, due to currency headwinds in Egypt and Turkey, the reported growth in INR will be impacted. The company also said that it was in the process of restructuring its distribution network in key markets and increasing investments behind brands which will help it in the long term.
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Price Action: Dabur shares were down 3.75% to trade at ₹527.40 in the late hours of trading on Thursday.
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