Millennium Post
Business

FMCG co. Bajaj Corp’s quarterly net dips 6%

FMCG firm Bajaj Corp on Monday reported 6.22 per cent decline in net profit at Rs 36.01 crore for the second quarter ended 30 June, 2013, on the account of exceptional items marked for acquisition of Ozone Ayurvedics' Nomarks brands.

The company had reported net profit of Rs 38.4 crore in the same quarter a year ago. Net sales during the quarter under review went up by 16.48 per cent to Rs 158.24 crore as against Rs 135.85 crore in the corresponding period last year, the company said in a BSE filing.
Exceptional items during the quarter were at Rs 5.1 crore due to acquisition of Nomarks, the company said.

On 22 August, Bajaj Corp acquired Nomarks brands and non- compete agreement for three years with Ozone Ayurvedics for Rs 140.94 crore to strengthen its position in the personal care segment.

'Acquisition cost of the brand and non-compete will be amortised over three years. Accordingly, pro rata amount of Rs 5.10 crore has been amortised during the quarter,' Bajaj Corp said.

Overall expenses during the quarter were at Rs 116.49 crore, an increase of 19.15 per cent compared with Rs 97.76 crore in the same quarter last year.

Bajaj Corp has several products in the hair care segment such as Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.
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