Bajaj Corp Ltd reported a17.19 per cent increase in standalone net profit at Rs 57.79 crore for the third quarter ended December 31, 2016.
The company had posted a standalone net profit of Rs 49.31 crore in the same period last fiscal. However, net sales during the quarter under review were down by 4.75 per cent at Rs 186.39 crore as against Rs 195.7 crore in the year-ago period, Bajaj Corp Ltd said in a BSE filing.
During the quarter, the company which sells cosmetics, toiletries and other personal care products, had benefited from lower expenses, which stood at Rs 126.93 crore as against Rs 129.41 crore in the same quarter last fiscal, down 1.91 per cent.
Besides, it also had higher other income of Rs 13.75 crore as compared with Rs 7.77 crore in the year-ago period. Moreover, in the year-ago quarter, the company had exceptional items of Rs 11.74 crore leading to lower profit.
The board of directors of the company at its meeting today recommended an interim dividend of Rs 11.50 per share of Re 1 each. Shares of Bajaj Corp Ltd were trading up 0.67 per cent at Rs 373.95 apiece on BSE.