Bajaj Consumer Care slips 8% as net profit for March quarter falls 61% YoY

Shares of Bajaj Consumer Care slipped as much as 8 per cent to Rs 140 apiece on the BSE on Friday after the company reported a 61 per cent decline in its consolidated net profit at Rs 23.29 crore for the fourth quarter ended March 2020. The company had posted a profit of Rs 59.82 crore during the January-March quarter of the previous fiscal. 

At 09:44 am, the stock was trading over 5 per cent lower at Rs 144.20. In comparison, the benchmark S&P BSE Sensex was trading flat at 34,175.53, down 32.5 points or 0.10 per cent.

The stock had hit a 52-week high of Rs 345 on June 26, 2019, and its 52-week low stands at Rs 117.50, touched on March 25, 2020. 

The total revenue of the company dropped by 27.75 per cent to Rs 178.76 crore during the quarter under review as against Rs 247.44 crore in the corresponding period of the previous fiscal.

For the full year, net profit declined 16.62 per cent to Rs 184.77 crore for the quarter under review against Rs 221.59 crore in the corresponding quarter of the previous fiscal. Sales declined 7.23 per cent to Rs 825.76 crore as against Rs 890.07 crore in the year-ago period. READ MORE

That apart, the company's board has recommended a dividend of 200 per cent ( (i.e. Rs 2 per share, on equity shares of the

face value of Re 1 each) for the financial year ended March 31, 2020. The company also informed that the board has approved the appointment of Jaideep Nandi as Managing Director of the Company effective July 1, 2020. Mr. Nandi will replace Mr. Sumit Malhotra based on the recommendation of the Nomination, Remuneration and Corporate Governance Committee, Bajaj Consumer Care said in its press release.