Bajaj Corp Q3 net up 46% at Rs 42 cr, shrs jump 5%
Personal care products maker Bajaj Corp's net profit for the third quarter rose 46 percent year-on-year to Rs 42 crore, sending its shares up 5 percent to a 52-week high of Rs 256.50 on NSE.
January 11, 2013 / 14:40 IST
Moneycontrol Bureau
Personal care products maker Bajaj Corp's net profit for the third quarter rose 46 percent year-on-year to Rs 42 crore, sending its shares up 5 percent to a 52-week high of Rs 256.50 on NSE. Net sales for the maker of Bajaj Almond Drops and Brahmi Amla hair oils were up 32 percent to Rs 148 crore.The company's EBITDA rose 50 percent to Rs 43 crore, while EBITDA margin was at 29.03 percent, up from 25.51 percent a year ago.The sales growth was boosted by 32 percent growth in value and 22 percent rise in volumes, Bajaj Corp said on Friday.During the Oct-Dec quarter, the company got a boost from a decline in price of light liquid paraffin (a key ingredient in hair oils) to Rs 79.10/kg from Rs 82.86/kg, resulting in additional gain of Rs 1.08 crore. However, increased refined oil price to Rs 80.18/kg from Rs 70.29/kg led to additional cost of Rs 77 lakh.Overall, Bajaj Corp's total expenses in the third quarter were at Rs 106 crore, up 25 percent.The company said it will focus on rural penetration and continue to tap the increase in disposable income in rural India for growth. It will also seek inorganic growth opportunities in the FMCG and hair oil market."The inorganic growth opportunities will focus on targeting niche brands which can benefit from Bajaj Corp's strong distribution network so that they can be made pan India brands," it said.At 14:15 hrs, Bajaj Corp shares were up 4.4 percent at Rs 255.60. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
