Bajaj Corp is trading lower by 4% at Rs 242 in otherwise firm market after reporting 6% year-on-year (yoy) decline in net profit at Rs 36 crore for the second quarter ended September 2013 (Q2), on the account of exceptional items marked for acquisition of Ozone Ayurvedics' Nomarks brands and higher expenditure.
The personal products maker had reported net profit of Rs 38.4 crore in the same quarter a year ago.
Exceptional items during the quarter were at Rs 5.1 crore due to acquisition of Nomarks, the company said.
The company’s net sales grew 16% yoy at Rs 158 crore, while total expenditure increased 19% yoy at Rs 116 crore during the recently quarter. EBITDA margins contracted nearly 200bps to 27.09% from 28.76%, the company said.
The stock opened at Rs 245 and hit a low of Rs 241 on NSE. A combined around 70,000 shares change hands on the counter till 1010 hours on NSE and BSE.
The personal products maker had reported net profit of Rs 38.4 crore in the same quarter a year ago.
Exceptional items during the quarter were at Rs 5.1 crore due to acquisition of Nomarks, the company said.
The company’s net sales grew 16% yoy at Rs 158 crore, while total expenditure increased 19% yoy at Rs 116 crore during the recently quarter. EBITDA margins contracted nearly 200bps to 27.09% from 28.76%, the company said.
The stock opened at Rs 245 and hit a low of Rs 241 on NSE. A combined around 70,000 shares change hands on the counter till 1010 hours on NSE and BSE.
