Dabur India share price climbs over 1%; should you buy the stock after Q2 result?
Dabur India share price: Dabur share price rose over a per cent in early trade on NSE on Friday, November 3, extending its gains of the previous session after the FMCG company's Q2 earnings. Dabur share price rose 2.57 per cent to close at ₹530.40 in the previous session on Thursday after the company reported its September quarter earnings. On Friday, Dabur share price opened at ₹534.10 and soon rose 1.3 per cent to the level of ₹537.10 on the NSE.
Around 9:20 am, the stock was up 0.81 per cent at ₹534.70 on NSE. Dabur share price has underperformed its sectoral index Nifty FMCG and the benchmark index Nifty 50 in the last one year. Dabur share price has lost about 6 per cent in the last one year while the Nifty FMCG index and Nifty 50 have gained about 16 per cent and 6 per cent, respectively, in the same period.
Dabur on Thursday reported a consolidated net profit of ₹515.05 crore for Q2FY24, up 5 per cent year-on-year (YoY) from ₹490.06 crore in the same quarter last year. Its consolidated revenue from operations rose 7.2 per cent YoY to ₹3,203.84 crore in Q2FY24 from ₹2,986.49 crore in the corresponding quarter last year, driven by steady performance of both the 'Home and Personal Care' and 'HealthCare' businesses. The Q2 revenue growth stood at 10.4 per cent on constant currency terms.
Besides, the company reported a volume growth of 3 per cent in the quarter under review. Also Read: Dabur India Q2 Results: Net profit rises 5% to ₹515 crore; revenue up 7.2% YoY; declares dividend of ₹2.75 per share (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Some brokerage firms have maintained their earlier views on the stock while some of them
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