The company on Wednesday reported a consolidated net profit of Rs 35.58 crore for the March-ended quarter, down by 12% over Rs 40.46 crore reported in the year-ago period. However, for the full financial year, the profit after tax (PAT) was reported 11% higher at Rs 155.43 crore over Rs 139.21 crore reported in the year-ago period.
Total revenue from operations stood at Rs 240 crore versus Rs 239 crore reported in Q3FY24 and Rs 249 crore in Q4FY23. It was flat on a quarter-on-quarter basis while down by 4% on a YoY basis.
Its Almond Drop Hair Oil (ADHO) brand registered a double-digit growth of 15% in alternate channels due to sustained investments and customer-specific marketing interventions in Q4, the company filing said. The volume growth of 0.9% for FY24 was backed by initiatives to drive improved value in mid and large packs.
In the new products category, value growth of 26% in Q4 FY24 and 12M in FY24 was reported.In the channel performance, general trade declined by mid-single digits in Q4 on a secondary basis. The organised trade registered growth of 11% for Q4 and 22% for FY24. Saliency was reported at 24% for FY24.On a consolidated basis, International Business grew by 4% in Q4 and 24% in FY24.Meanwhile, Bajaj Consumer Care’s board of directors also approved the company’s proposal for the buyback of fully paid-up equity shares of up to 57.41 lakh at a price of Rs 290 per unit. This will be payable in cash for an amount aggregating up to Rs 166.49 crore, the company said in its filing to the exchanges.The buyback price is at an 11% premium over Wednesday’s closing price of Rs 261.40 on the NSE. The announcement was made on Wednesday after market closing hours along with the company’s March quarter earnings.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)