Bajaj Corp dips on disappointing Q4 results

The stock dipped 7% to Rs 397 on BSE after Ebitda margin contracted 381 bps to 32.96% in Q4FY17

Bajaj Corp dipped 7% to Rs 397 on BSE in intra-day trade after the company’s standalone EBITDA (earnings before interest, tax, depreciation and amortization) margin contracted 381 basis points to 32.96% in March 2017 quarter (Q4FY17) from 36.77% in Q4FY16. EBITDA margin was lowest in past five quarters.

The company engaged in personal products business reported 2.9% year on year (YoY) drop in net profit at Rs 52.67 crore in Q4FY17 against Rs 54.26 crore in the corresponding quarter of previous year.

Net sales declined by 1.9% at Rs 204 crore on YoY basis. The company’s total expenses