The most destructive monetary myth in the USA

There’s a myth in the USA that just won’t go away. It’s this idea that a household balance sheet is somehow comparable to that of the federal government’s

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Dabur India Q3 Revenue surges 34.5% to Rs1452.68 crore

Dabur India’s consolidated net profit for the quarter rises 12% to Rs172.82 crore

The Board of Directors of Dabur India Ltd (DIL) met to consider the unaudited financial results of the company for the quarter and Nine-month period ended 31 December 2011. Riding on strong volume-driven growth across its key categories like hair oils, health supplements, foods, toothpaste and home care, Dabur India Ltd ended the third quarter of 2011-12 financial year with a 34.5% surge in consolidated net sales to Rs1,452.68 crore. Consolidated net sales stood at Rs1,079.97 crore in the same quarter last year. While the macro-economic environment continues to be challenging, a host of consumer connect initiatives and higher investment behind Dabur’s brands, helped it drive demand for its products in both urban and rural markets. The company ended the third quarter of the current fiscal with a near 12% rise in consolidated net profit to Rs172.82 crore, up from Rs154.44 crore a year earlier.

Net profit for the nine-month period ending 31 December 2011 marked a 12.52% growth to Rs474.38 crore, while net sales for the same period was up 32.01% at Rs3,919.59 crore.

“Despite the Inflationary pressures and macro-economic challenges, we have managed our business dynamically through a combination of judicious price increases and greater focus on cost efficiencies. We have also enhanced investment behind our brands, which will yield dividend in months to come. As a result, our EBITDA marked a 12% growth during the quarter. Going forward too, we will continue to pursue an aggressive and profitable growth strategy,” Dabur India Ltd chief executive officer, Sunil Duggal said.

The quarter marked Dabur's foray into the professional grooming space with the launch of professional facial kits under the brand Fem. The company has launched Fem Gold and Fem Queen’s Pearl professional facial kits, both of which have been very well received by the market. The company is now adding to this portfolio with the launch of India’s first body bleach, also under the Fem brand. Dabur also entered the almond hair oil market during this period.

Dabur’s international business continues to be a key growth driver, recording a robust 37.8% growth (excluding acquisitions) during the third quarter of the current fiscal, led by strong performance in GCC, Egypt and Nigeria.

“The Nigeria business reported a 33% growth, while sales in GCC markets grew by 27% during the quarter. Egypt too reported a 25% growth. Shampoos, Hair Creams and Toothpastes were the key growth drivers in the international markets. We will continue to pursue an aggressive growth strategy,” Dabur India Ltd group director, P D Narang said.

In the late afternoon, Dabur India was trading at around Rs94.15 per share on the Bombay Stock Exchange, 1.40% up from the previous close.

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Shoppers Stop store expansion on growth trajectory

Shoppers Stop has the highest ever store openings of 11 stores in 9 months.

Shoppers Stop Ltd (SSL), India’s prominent retail group (operator of large format department stores, home stores, specialty stores like Crossword, Mothercare, MAC, and hypermarkets) reported a gross retail turnover of Rs562.5 crore for the quarter ended 31 December 2011 as against Rs513.6 crore in Q3FY11; registering an increase of 10%.

This quarter SSL added six new Shoppers Stop stores at Latur, Mysore, Ahmedabad, Pune, Chennai and Mumbai. Two Homestop stores were launched in Ahmedabad and Mumbai. In addition to these, three new Crossword franchisee stores in Pune, Bengaluru, and Siliguri were launched taking the total count of Crossword stores to 86 stores across the country. Shoppers Stop has the highest ever store openings of 11 stores in 9 months.

Driving ahead its successful membership programme, SSL continued to expand its membership base adding about 130,000 new members to the First Citizen Loyalty Programme in Q3 FY 12. The programme now has a base of over 237,000 members. This quarter the members contributed 72% to SSL’s revenue.

Speaking on the occasion, Mr. Govind Shrikhande – customer care associate and managing director of Shoppers Stop Ltd said, “Shoppers Stop continues its growth momentum this quarter. Store expansion has been a hallmark feature of this quarter’s growth story too. The loyalty franchise, First Citizen Program, too has seen an upswing in enrolments. It continues to contribute strongly and significantly to the top-line.”

Testimony to its expansive social media footprint, Shoppers Stop Facebook page was ranked Number 1 by Fortune Magazine (India) in the ranking of Fortune 500 companies that have the highest social net-worth.

During the quarter, Shoppers Stop was the proud recipient of the ‘Department store of the year’ award and Crossword was recognized with the ‘Book & Music Retailer’ of the year award at the Star Retail Awards, 2011.

In the late afternoon, Shoppers Stop was trading at around Rs293.50 per share on the Bombay Stock Exchange, 0.63% up from the previous close.

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