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.
