Dabur India shares fell over 4 percent after the company announced moderate growth in earnings for the January-March period.
The stock fell 4.5 percent to 507 on the National Stock Exchange (NSE) at 1:38 pm.
The company’s India operations and home and personal care segments are expected to grow in high-single digits, the company said in its Q4FY24 results update.
The healthcare and food and beverage sectors are projected to experience modest single-digit growth, while international operations are anticipated to achieve double-digit growth in constant currency, driven by strong performance in the Middle East and North Africa, particularly in Egypt and Turkey. The company anticipates that gross margins will continue to widen as a result of deflation in input costs and the implementation of cost-saving measures.
“The quarter saw continued sluggish demand trends, with rural growth gaining momentum due to price reductions in essential items, resulting in a narrowing gap between rural and urban areas. With a favorable outlook for the rabi crop harvest and normal monsoon forecasts, we anticipate an uptick in consumption in the upcoming months,” stated the company.
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Over the past six months, Dabur India shares have declined by 7%, and over the last year, they have seen a decrease of 6.14%.
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