Bajaj Consumer jumps after decent Q2 result

Bajaj Consumer Care gained 4.21% to Rs 191.9 after the FMCG company posted a 1.6% rise in consolidated net profit to Rs 56.92 crore on a 4.3% rise in net sales to Rs 223.37 crore in Q2 September 2020 over Q2 September 2019.

Oct 19, 2020 10:10 IST capital market

Consolidated profit before tax (PBT) stood at Rs 69 crore in Q2 September 2020 (Q2 FY21), increasing 7.1% from Rs 64.44 crore in Q2 September 2019 (Q2 FY20). Current tax expense rose 43.60% to Rs 12.12 crore in Q2 FY21 over Q2 FY20.

Bajaj Consumer said urban markets continued to be under stress as being lockdown in various markets, migration of labour away from town centres and drying up of upcountry customers at wholesale markets put pressure. The companys international business remained stable with recovery in Q2 due to ease of restrictions. The rural markets did well. The van operations have helped scale up rural business.

On a standalone basis, net profit was flat at Rs 57.25 crore in Q2 FY21 as against Rs 57.29 crore in Q2 FY20. Net sales rose by 5% to Rs 221.76 crore during the period under review. EBITDA was almost flat at Rs 63.99 crore in Q2 FY21 compared with Rs 63.62 crore in Q2 FY20. Total operating income grew 3.78% to Rs 225.30 crore in Q2 FY21 over Q2 FY20.

Shares of Bajaj Consumer Care have surged 6.2% in four days.

Bajaj Consumer Care has presence in the hair oil category with brands like Bajaj Almond Drops Hair oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Hair oil and Bajaj Jasmine Hair oil. The company ventured into the skin care category with the acquisition of Nomarks brand.

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