Bajaj Corp Q2 net profit up 34% YoY to Rs 38 crore

Moneycontrol Bureau

Consumer goods firm Bajaj Corp  's second quarter net profit rose 34% year-on-year to Rs 38 crore, sending the shares up over 2% in afternoon trade.

Net sales for the maker of Bajaj Almond Drop hair oil were up 27% from a year ago to Rs 136 crore in July-September.

On a sequential basis, Bajaj Corp's net profit was up 2%, while net sales were down 1%.

The company's raw naterial costs in the quarter increased 14% to Rs 50 crore, while total expenses were up 23% to Rs 98 crore.

Bajaj Corp spent Rs 8.5 crore on advertising, up from Rs 6 crore a year ago.

At 14:00 hrs, Bajaj Corp shares were trading at Rs 187.10 on NSE, up 2.1% from previous close.