Here's why Bajaj Consumer Products shares were up 20% on Thursday

Shares of Bajaj Consumer Care Ltd. gained 20% on Thursday, January 22, after the company reported a strong set of earnings, showing a visible change under its new leadership.

The company's profit after tax increased 83% to ₹46.37 crore from ₹25.31 crore in the previous year.

Its revenue increased 31% to ₹306.09 crore from ₹234.4 crore in the third quarter of the previous fiscal.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 114% to ₹56.08 crore from ₹26.22 crore in the previous year.

Its margins expanded to 18.3% from 11.2% in the year-ago period.

Strong revival continues in the low unit pack (LUP) segment, including sachets. Almond Drops Hair Oil (ADHO) witnessed double-digit volume growth. The non-ADHO portfolio grew mid-single digit.

Bajaj Coconut portfolio registered high single-digit value growth.

In June last year, the company announced leadership changes, with its then managing director Jaideep Nandi stepping down and the company appointing Naveen Pandey as his replacement.

Shares of Bajaj Consumer ended 20% higher on Thursday at ₹296.9. The stock has risen 60% over the last 12 months.

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