Dabur India on May 27 reported a 24 percent year-on-year (YoY) decline in consolidated net profit for the Match quarter of FY20 at Rs 281.6 against Rs 371.49 crore in Q4FY19.
The numbers came below Street estimates as a CNBC-TV18 poll had estimated the numbers to the tune of Rs 384 crore.
The company also reported a one-time loss at Rs 20 crore.
Consolidated revenue for the quarter came at Rs 1,865.4 crore against the CNBC-TV18 poll of Rs 2,173 crore.
Consolidated EBITDA stood at Rs 352.3 crore against CNBC-TV18 poll of Rs 475 crore while EBITDA margin came at 18.9 percent against CNBC-TV18 poll of 21.8 percent.
Domestic volume declined at 14.6 percent against 4.3 percent growth YoY. CNBC-TV18 poll had estimated a 2-3 percent growth.
The company said the outbreak of COVID-19 pandemic is causing significant disturbance and slowdown of economic activities globally and has resulted in a significant reduction in economic activities and also the business operations of the company in terms of sales and production.
"The management has considered the possible effects that may result from the pandemic on the recoverability/carrying value of the assets. Based on the current indicators of future economic conditions, the management expects to recover the carrying amount of the assets, however, the management will continue to closely monitor any material changes to future economic conditions," said the company.