Bajaj Consumer Care Shares Fall As Q4 Profit, Margin Miss Estimates
Bajaj Consumer Care Ltd.'s margin narrowed to 14.5% in the March quarter, versus 16.7% in the year-ago period.
Shares of Bajaj Consumer Care Ltd. fell on Thursday to the lowest in a week as its consolidated net profit in the fourth quarter of financial year 2024 missed analysts' estimates. The FMCG company's profit fell 12% to Rs 35.6 crore in the quarter ended March, according to an exchange filing.
BCCL Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue down 3.8% to Rs 240 crore versus Rs 249.4 crore (Bloomberg estimate: Rs 244 crore).
Ebitda down 17% to Rs 34.7 crore versus Rs 41.7 crore (Estimate: Rs 40.9 crore).
Margin at 14.5% versus 16.7% (Estimate 16.7%).
Net profit down 12% to Rs 35.6 crore versus Rs 40.5 crore (Estimate: Rs 41.5 crore).
On the NSE, Bajaj Consumer's stock fell as much as 6.84% during the day to Rs 242.45 apiece, the lowest since May 2. It was trading 6.32% down at Rs 243.90 per share, compared to a 0.32% decline in the benchmark Nifty 50 at 10:09 a.m.
The share price gained 40.55% in the last 12 months and 11.02% on a year-to-date basis. The total traded volume so far in the day stood at 5.3 times its 30-day average. The relative strength index was at 56.54.
Eight analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 10.1%.
