Bajaj Corp has slipped 5% to Rs 209 after reporting 31% year on year (yoy) decline in net profit at Rs 29 crore for the third quarter ended December 31, 2013 (Q3FY14), due to one-time expenditure of Rs 12 crore on brand amortization and higher other expenditure. The personal products maker had a profit Rs 42 crore in the same quarter previous fiscal.
Net sales of the company grew 6.75% yoy at Rs 158 crore, while total expenditure increased by 10.4% yoy at Rs 117 crore, Bajaj Corp said in a statement.
The company’s EBITDA or operating profit margin contracted nearly 200bps to 27.04% from 29.03% during the recently concluded quarter.
Meanwhile, the board has recommended an interim dividend at the rate of 650% (i.e. Rs 6.50 per share) on equity shares of the face value of Re 1 each for the financial year 2013-14.
The stock opened at Rs 219 and touched a low of Rs 207 on the BSE. A combined 304,000 shares changed hands on the counter so far on the BSE and NSE.
Net sales of the company grew 6.75% yoy at Rs 158 crore, while total expenditure increased by 10.4% yoy at Rs 117 crore, Bajaj Corp said in a statement.
The company’s EBITDA or operating profit margin contracted nearly 200bps to 27.04% from 29.03% during the recently concluded quarter.
Meanwhile, the board has recommended an interim dividend at the rate of 650% (i.e. Rs 6.50 per share) on equity shares of the face value of Re 1 each for the financial year 2013-14.
The stock opened at Rs 219 and touched a low of Rs 207 on the BSE. A combined 304,000 shares changed hands on the counter so far on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%