India's Bajaj Consumer Care down after qtrly profit drops

Bajaj Consumer Care

03/02/2022 07:44

** Shares of personal care products maker  BACO.NS  down as
much as 4.4% to 179.35 rupees, post their biggest intraday pct
loss since Dec. 20 
    ** BACO down after three straight sessions of gains; marks
its lowest since Jan. 25
    ** Co, which owns Bajaj Almond Drops hair oil brand, on
Wednesday reported https://bit.ly/3glINPi Dec-qtr consolidated
profit of 384 mln rupees ($5.13 million), a nearly 33% decrease
from a year ago
    ** Co reported Dec-qtr consolidated sale of goods fell to
2.26 bln rupees from 2.44 bln rupees a year ago
    ** BACO makes hair oils, face cream, soap, and sanitisers
under various brands
    ** Co says https://bit.ly/3AXGQlp hair oil market growth
continued to be subdued in Q3, with volumes declining; sharp
decline in rural volume growth impacted by inflationary pressure
    
    ** More than 1 mln shares traded by 0635 GMT, twice their
30-day avg
    ** Ten of 12 brokerages rate the stock "buy" or higher, and
2 "sell"; their median PT is 305 rupees - Refinitiv
    ** Up to last close, BACO had fallen 5.3% this year; it was
down 7.6% in 2021
    
($1 = 74.8359 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))