At the onset of the March quarter results season, expectations were understandably running low. Still, Dabur India Ltd’s last quarter performance is discouraging.
The company’s domestic volume declined by 14.6% for the quarter. This is among the worst performances seen in the consumer staples sector.
Note that larger consumer staples peer Hindustan Unilever Ltd’s volume fell by 7% last quarter. Analysts have estimated Nestle India Ltd to have seen volume growth during the March quarter.
Godrej Consumer Products Ltd saw its India business volume decrease by as much as 15%. Having said that, Dabur’s volumes in the first two months rose by 4.6%, which doesn’t look too bad.