New Delhi, July 23: Domestic FMCG major Dabur India Limited has recorded a 39.1 per cent growth in net profit at Rs 16 crore in the first quarter ended June 30 compared with Rs 11.5 crore in the corresponding previous quarter.

Dabur’s board of directors, which met here today to consider the unaudited financial results for the quarter, also announced that the company had recorded a 13 per cent increase in turnover at Rs 300 crore from Rs 266 crore in the year-ago period.

A company spokesperson said the first quarter results should not be annualised to estimate performance for the full year as sales usually improve in subsequent quarters.

The company, which has decided to demerge its pharmaceuticals operations from the core FMCG business, will seek shareholders approval for the proposal at the annual general meeting scheduled to be held on August 2.

Once the shareholders clear the plan, legal approvals will be sought.