Bajaj Consumer Q1 net profit declines 20 percent to Rs 37 crore

FMCG firm Bajaj Consumer Care Ltd reported a 20 percent decline in net profit to Rs 37 crore ($4.4 million) for the first quarter ended June 30, as against Rs 46 crore in the year-ago quarter.

The company’s revenue for the quarter was down by 9 percent to Rs 245 crore, as against Rs 270 crore in the corresponding quarter of the previous fiscal year.

“General trade sales declined due to planned one-time market hygiene corrections, including adjustments in wholesale discounts and scheme rationalisations. However, ‘organised trade’ showed robust growth, increasing by 12% YoY and 15% quarter-on-quarter (QoQ), with a saliency of 26%,” the company said in a statement.

“Within this segment, ‘modern trade’ grew by 9%, e-commerce saw a 13% rise, and canteen and institutional sales registered a 15% yoY growth. The international business (IB), on a consolidated basis, grew modestly by 1% YoY, despite a high Q1 base, but saw a significant 28% QoQ increase,” it added.