FMCG firm Bajaj Corp today reported a 13 per cent decline in standalone net profit at Rs 50.71 crore for the second quarter ended September 30 on account of higher expenses.
The company had posted a net profit of Rs 58.29 crore during the same period of the previous fiscal, Bajaj Corp said in a regulatory filing.
Net sales during the period under review grew 3.73 per cent to Rs 204.12 crore as against Rs 196.77 crore in the year ago period.
Total expenses during the period stood at Rs 147.60 crore compared to Rs 138.59 crore during the July-September quarter of 2016-17, up 6.50 per cent.
Bajaj Corp has several products in the hair care segment such as Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.
The company's shares closed 1.21 per cent higher at Rs 413.85 apiece on BSE today.