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Bajaj Consumer Care share price drops 8% post Q4 earnings

Bajaj Consumer Care share price opened with a loss of 4.79% and later touched an intraday low of Rs 140, falling 8.11% on BSE

twitter-logoBusinessToday.In | June 19, 2020 | Updated 14:09 IST
Bajaj Consumer Care share price drops 8% post Q4 earnings
Bajaj Consumer Care stock trades higher than its 20 and 50-day but lower than 5, 100 and 200-day moving averages

Bajaj Consumer Care share price fell over 8% in Friday's early session after three days of consecutive gain as the company posted weak numbers for the quarter ended March 2020.

The company reported a 61% decline in consolidated net profit at Rs 23.3 crore during the quarter ended March 31, 2020 against a profit of Rs 59.83 crore, recorded in a year-ago period.

Bajaj Consumer Care share price opened with a loss of 4.79% and later touched an intraday low of Rs 140, falling 8.11% on BSE.

Bajaj Consumer Care stock trades higher than its 20 and 50-day but lower than 5, 100 and 200-day moving averages.

For the year ended March 2020, company's net profit declined 15.73% YoY to Rs 190.55 crore in FY20 compared to Rs 226.13 crore in FY19.

The stock has fallen 38% since the beginning of the year. However, it has gained 0.15% in one week and 8.5% in one month.

Company's total income dropped 27.75% to Rs 178.8 crore in the January-March quarter of the current fiscal compared to Rs 247.4 crore in a year-ago period.

"Q4 FY20 performance was hugely impacted due to disruption in sales in the month of March led by lockdown to contain the outbreak of COVID-19. This has greatly impacted overall FY20 performance to a great extent," the company said in its regulatory filing.

EBITDA stood at Rs 25.04 crore, registering a fall of 68.32% YoY compared to Rs 79.04 crore last year.

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