Bajaj Consumer Care's consolidated net profit slipped 4.35% to Rs 54.23 crore on 17.93% decline in net sales to Rs 197.58 crore in Q1 June 2020 over Q1 June 2019.
Consolidated profit before tax (PBT) skid 9.76% to Rs 65.68 crore in Q1 June 2020 as against Rs 72.79 crore in Q1 June 2019. Current tax expense for the quarter fell 28.80% at Rs 11.47 crore as against Rs 16.11 crore in Q1 June 2019. The Q1 earnings were announced during trading hours today, 15 July 2020.
Q1 FY21 performance was impacted due to nation-wide lockdown to contain outbreak of COVID-19. Bajaj Consumer Care witnessed significant disruptions during the first fortnight of April 2020 but since then the company has been able to steadily revive its operations and reverted to near normal business in May 2020 and June 2020.
Bajaj Consumer Care has presence in the hair oil category with brands like Bajaj Almond Drops Hair oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Hair oil and Bajaj Jasmine Hair oil. The company ventured into the skin care category with the acquisition of Nomarks brand.
Shares of Bajaj Consumer Care jumped 8.16% to Rs 163.10. The scrip hovered in the range of Rs 148 to Rs 165.65 so far.
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