Consumer goods giant Dabur India is grappling with a Goods and Services Tax (GST) notice amounting to approximately Rs 321 crore, encompassing interest and penalties. The company conveyed this development in a communication to stock exchanges on October 17. However, Dabur India is confident that this tax notice won’t significantly impact its financial standing, business operations, or other activities. The company stated that if a final order is passed on tax liability, interest, and penalties, the impact will be limited.
Dabur India Faces GST Notice of Rs 321 Crore
Dabur also affirmed its intention to contest this order vigorously and present a strong response and arguments to the concerned authorities. Notably, Dabur India is slated to announce its September quarter results on November 2, 2023.
Dabur India’s June Quarter Highlights and Growth
In the preceding June quarter, the company witnessed a 3.52% annual increase in net profit, totaling Rs 456.61 crore. The overall income of the company surged by 10.85% to Rs 3,240.25 crore. On a quarterly basis, there was a notable growth of 15.78% in the company’s total income.
As of Tuesday, shares of Dabur India were trading on the NSE at Rs 540.20, reflecting a 0.61% increase. However, the company’s shares had witnessed a decline of 4.50% in the past month. Year-to-date, the price of the company’s shares has shown a decrease of 3.80% since the beginning of this year.
