Dabur‘s share price had been trading lower on Thursday ahead of the Q4 results and slumped further after the company declared the results in the afternoon.
What Happened: The company’s revenue from operations rose 6% year-over-year to ₹2,677.80 crore in the March quarter. However, the company’s revenue slumped 12% sequentially.
The company’s consumer care business revenue grew marginally to ₹2,096.15 crore compared to the ₹2,095.15 crore revenue it booked in the same quarter last year. Revenues from the food business saw healthy growth at 44% YoY to ₹521.17 crore.
Net profit for the quarter ended March slumped 0.6% YoY to ₹292.76 crore. The profit was much below consensus estimates of around ₹320- ₹350 crore. The slump was even steeper when compared to the profit the company booked in the December quarter at ₹476.65 crore. Earnings per share for the quarter stood at ₹1.70. The company also announced a dividend of ₹2.70/share, aggregating to a total of ₹478.38 crore.
The weak numbers saw the company’s shares take a steep fall just after the results were declared at around 2:30 pm.
Get all the latest Share Market trends and news to set you up for the week ahead.
Price Action: Dabur share price slumped 1.55% to close at ₹529.60 on Thursday.
Read Next: What Is Bisleri Share Price And How To Buy?
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.