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Bajaj Consumer Care shares rise: Shares of Bajaj Consumer Care rose as much as 4.29 per cent to hit a fresh 52-week high of Rs 274.10 per share.
The uptick in share price came after the company’s board fixed July 2 as the record date for identifying equity shareholders eligible for the buyback.
In an exchange filing, Bajaj Consumer Care said, “The Buyback Committee constituted by the Board of Directors has fixed Tuesday, July 2, 2024 as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who shall be eligible to participate in the Buyback.”
Bajaj Consumer Care Ltd, affiliated with the Bajaj Group of Companies, specialises in producing and promoting a range of hygiene, hair care, and skin care products. The company’s offerings include almond hair oil, sanitizer, amla hair oil, jasmine hair oil, anti-marks skin cream, and face wash.
Financial performance
Bajaj Consumer Care’s net profit dropped 12.1 per cent to Rs 35.6 crore in Q4FY2, as opposed to Rs 40.5 crore in Q4FY23.
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The company's net sales decreased 4.9 per cent year on year (Y-o-Y) to Rs 234.2 crore in the quarter ended March 31, 2024.
Profit before tax stood at Rs 43.6 crore during the fourth quarter, down 11.5 per cent from Rs 49.2 crore in corresponding quarter previous year.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) de-grew by 16.5 per cent YoY to Rs 35.8 crore during the quarter under review. Ebitda margin reduced to 15.3 per cent in Q4 FY24, from 17.4 per cent in Q4 FY23.
Total expenses slipped 1.06 per cent Y-o-Y to Rs 208.08 crore during the quarter. Advertisement & sales promotion expenses, meanwhile, stood at Rs 39.6 crore (down 3 per cent annually) while employees cost was at Rs 26.1 (up 19.8 per cent Y-o-Y) in Q4 FY24.
The market capitalisation of the company is Rs 3,893.60 crore, according to the BSE.
At 10:54 AM, Shares of the company were trading 3.08 per cent higher at Rs 270.90 per share. By comparison, BSE Sensex was trading 0.39 per cent lower at 77,174.21 levels.
