Shares of Bajaj Consumer Care Ltd. rallied over 10 percent on Thursday, its biggest single-day gain in 14 months, after the company reported strong volume growth during the March quarter.

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The company reported volume growth of 9.9 percent in the March quarter and 5.6 percent for financial year 2023.

Bajaj Consumer's revenue increased by 14.3 percent during the quarter to Rs 249.4 crore, compared to Rs 218.2 crore during the same period last year.

Operating profit, or earnings before interest, tax, depreciation and amortisation (EBITDA), jumped 20.1 percent to Rs 41.69 crore in the fourth quarter from Rs 34.7 crore a year ago.

EBITDA Margin also improved by 80 basis points to 16.7 percent during the quarter. However, gross margin slipped to 54.1 percent from 56.3 percent in the year-ago period.

Net profit increased by 13 percent to Rs 40.46 crore during the March quarter.

The company also highlighted that its e-commerce and modern trade channels showed strong growth compared to general trade channels in the March quarter. General trade mainly refers to stores that are owned by individuals and cater to local customer needs, while modern trade refers to chain stores like hypermarkets, supermarkets, and minimarkets.

Bajaj Consumer’s sales through e-commerce registered a growth of 63 percent compared with a year ago, while modern trade grew by 52 percent. Revenue from the general trade channel, meanwhile, increased 6 percent during the quarter.

Even as Bajaj’s hair oil market share remained flat at 10.4 percent, Almond Drops hair oil was regaining momentum.

The board recommnded a dividend of Rs 5 per share, adding that said that the information regarding the date of payment of final dividend will be made separately later.

Shares of Bajaj Consumer Care gained as much as 10 percent, currently trading 7 percent higher at Rs 175.60. Today's gains has also ensured that the stock turns positive on a year-to-date basis.

(Edited by : Rukmani Krishna)