Bajaj Corp Q3 net profit jumps 9 percent to Rs 60 crore
today Jan 10, 2019
Bajaj Corp Ltd, one of the leading players in the hair oil and skin care segment owned by the Bajaj Group witnessed a 9 percent rise in its net profit to Rs 60 crore (approx $8.5 million) for the third quarter ended December 31, 2018.
The company had posted a net profit of Rs 55 crore during the same period in the fiscal year 2017-18.
Bajaj Corp’s revenue for the quarter also jumped 11 percent to Rs 237 crore as compared to Rs 213 crore it had posted during the last financial year, the company said in a Bombay Stock Exchange (BSE) filing.
The company’s domestic business was a major contributor to the company’s overall revenue with sales growing 13 percent with rural markets leading the overall growth. However, the company’s international business sales dipped 2 percent during the quarter.
The company, which sells cosmetics, and other personal care products, said it expects sales to rise during the fourth quarter and is optimistic about finishing the fiscal year on a high.
Bajaj Corp has invested heavily to tap the booming natural care and ayurvedic market in the country. During the quarter, the company launched a host of ayurveda products to connect with the large consumer base in the segment.
Copyright © 2019 FashionNetwork.com All rights reserved.