Homegrown consumer goods company Bajaj Consumer Care has reported a 17.54 per cent year-on-year rise in consolidated net profit at Rs 57.29 crore for the third quarter ended December 2020. Following Q3 results, shares of Bajaj Consumer Care jumped 20 per cent to close at 52-week high of Rs 255.95 apiece on the BSE.
The Bajaj Group firm had posted consolidated profit of Rs 48.74 crore in the same period last year, the company said in a regulatory filing on Wednesday.
The company's total income rose by 16.25 per cent to Rs 257.61 crore as against Rs 221.60 crore in the corresponding quarter a year ago, Bajaj Consumer Care said in a BSE filing.
On the standalone basis, the company reported 16.26 per cent YoY growth in net profit at Rs 58.23 crore in December quarter of 2020.
Net sales jumped by 18.16 per cent to Rs 242.79 crore in Q3 FY21, as against Rs 205.47 crore in the December quarter of the last fiscal. Of the total sales, the company generated Rs 236.3 crore from domestic sales and Rs 6.5 crore from international sales. The company said urban region showed signs of recovery with positive growth of 7 per cent, while rural grew by 37 per cent during the quarter under review.
Bajaj Consumer Care said that e-commerce business grew by around three times for the quarter contributing to 2.5 per cent of sales. The company is optimising and increasing digital marketing on various platforms, it added.
EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) rose by 15.78 per cent YoY to Rs 64.48 crore, while margin slipped to 26.56 per cent as compared to 27.10 per cent in the year ago period.
Bajaj Consumer Care's board has also recommended an interim dividend of Rs 6 per share on equity shares of the face value of Re 1 each). The board has fixed February 13, 2021 as Record Date for the purposes of interim dividend.