Bajaj Consumer net profit rises to Rs 37 crore in Q2; stock jumps 1.5%

Shares of Bajaj Consumer rose 1.5 percent in early trade on November 10, post reporting solid Q2 numbers. At 10:12 am the Bajaj Consumer stock was trading at Rs 222.95 on NSE.

FMCG firm Bajaj Consumer Care Ltd on November 9 reported a 17.75 per cent increase in consolidated net profit to Rs 37.27 crore for the September quarter. The company reported a net profit of Rs 31.65 crore in the year-ago period, according to a regulatory filing from Bajaj Consumer Care, a part of the Bajaj Group of Companies.

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Its revenue from the sale of goods was Rs 231.69 crore, marginally up during the second quarter of the ongoing fiscal compared to Rs 229.70 crore a year ago. It had a “volume growth of 4 per cent in Q2 FY24 and 7 per cent in H1 FY24 YoY,” said an earning presentation by the company.

Also Read: Bajaj Consumer net profit rises to Rs 37.27 crore in Q2

Total expenses of Bajaj Consumer Care, which operates mainly in the beauty care category, were at Rs 200.86 crore, down 1.51 per cent in the September quarter. Bajaj Consumer Care’s total revenue from operations was Rs 234.84 crore, up 1.02 per cent.

Bajaj Consumer stock call: Check brokerage views, target price

Brokerage firm Sharekhan is bullish on the stock and has recommended a ‘buy’ rating with a target price of Rs 280 in a recently released research report.

Bajaj Consumer Care stock performance

The company’s stock has given a return of 28.88 percent over the past six months. The benchmark Nifty50 index has given a return of 5.91 percent over the same duration.

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