Bajaj Consumer Care Q2 net profit down 32 percent to Rs 32 crore
FMCG firm Bajaj Consumer Care Ltd witnessed a 32 percent decline in its consolidated net profit to Rs 32 crore ($4 million) for the second quarter ended September, as against a net profit of Rs 46 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 8 percent to Rs 232 crore, as against Rs 216 crore reported in the corresponding period of the previous fiscal year.
Bajaj Consumer’s total expenses for the quarter rose by 20 percent to Rs 204 crore.
“During the quarter the was a slight decline in sales in Q2 mainly due to rural slowdown which remains a concern. E-Commerce performed significantly well with more than 180 percent growth,” Bajaj Consumer said in its quarter update.
“International business growth was more than 50 percent in Q2 FY23, Middle East & Africa performing well backed by efficient distribution & servicing of market. Strong growth reported in rest of the world led by opening of new countries and portfolio expansion,” it added.
Bajaj Consumer Care is part of the Bajaj Group and is one of the leading players in the hair oil and beauty care categories in India.
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