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Homegrown FMCG major Dabur India on Thursday reported a marginal decline in its consolidated net profit to Rs 292.76 crore for the fourth quarter ended March 2023.

The company, which had posted a consolidated net profit of Rs 294.34 crore in the fourth quarter of 2021-22, has proposed a final dividend of Rs 2.70 per share for the financial year 2022-23, aggregating Rs 478.38 crore, Dabur India said in a regulatory filing.

Its consolidated revenue from operations in the fourth quarter stood at Rs 2,677.8 crore against Rs 2,517.81 crore a year ago.

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Total expenses were higher at Rs 2,402.08 crore compared to Rs 2,141.04 crore in the corresponding quarter previous fiscal.

During the fourth quarter, consumer care business revenue was Rs 2,096.65 crore against Rs 2,095.15 crore in the year-ago period. The food business clocked Rs 521.17 crore, up from Rs 359.9 crore, while the retail business stood at Rs 27.48 crore against Rs 22.26 crore in the year-ago period, the filing said. Dabur said it ended the quarter with a volume case growth of 11 per cent and the year FY23 with 14 per cent.

For the fiscal ended March 31, 2023, consolidated net profit slipped to Rs 1,701.33 crore from Rs 1,742.3 crore in FY22, the company said.

In FY23, consolidated revenue from operations stood at Rs 11,529.89 crore against Rs 10,888.68 crore in FY22, it added.

“In an environment where high Inflation continues to impact consumption, we are happy to have progressed well with broad-based growth in our key categories and report market share gains across our product portfolio,” Dabur India Ltd Chief Executive Officer  Mohit Malhotra said.

The company’s performance in a tough inflationary environment demonstrated the “power and consistency of Dabur’s strategic playbook”, which helped it capitalise on its brand strength while continuing to innovate and deepen engagement with consumers, he added.

Malhotra said during the year, the company faced high inflation, which was partly mitigated by price increases to the tune of 6 per cent.

On the outlook, he said, “Despite the near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation and capabilities that will drive future growth. Our journey to sustainable growth is well on track as we focus on building a stronger, more dynamic business with a renewed sense of purpose”.

Dabur India said its international business witnessed a 9.6 per cent growth in constant currency terms in the fourth quarter and 11.1 per cent for the full year 2022-23.

“During the quarter, the Turkey business grew by 90 per cent, while Egypt business was up 28 per cent and Nepal business posted a growth of 17 per cent,” the company said.