Bajaj Electricals' Q3 FY24 net profit drops 39% to Rs 370.3 million
ECONOMY & POLICY

Bajaj Electricals' Q3 FY24 net profit drops 39% to Rs 370.3 million

Bajaj Electricals reported a consolidated net profit decline of 38.87 percent to Rs 370.36 million for the December quarter. According to a regulatory filing by Bajaj Electricals, the company had stated that it had posted a net profit of Rs 610.12 million in the corresponding quarter of the previous year.

During the quarter under review, the revenue from operations witnessed a decrease of 6.2 percent to Rs 12.28 billion. In the year-ago period, it stood at Rs 13.09 billion.

The total income of Bajaj Electricals for the December quarter was Rs 12.20 billion, reflecting a 1.28 percent decline.

The revenue from Consumer Products (CP) observed a 7.96 percent decrease to Rs 9.56 billion, in contrast to the corresponding quarter's Rs 10.39 billion.

In an earnings statement, Bajaj Electricals revealed that the CP business recorded an EBIT (Earnings Before Interest and Taxes) of Rs 160 million, down from Rs 780 million in the previous year's corresponding quarter, primarily due to a one-time impact on the reassessment of warranty provisions.

The revenue from lighting solutions remained almost flat at Rs 2.71 billion, compared to Rs 2.7 billion a year ago.

Shekhar Bajaj, the Chairman, commented on the results, stating, "Lighting solutions have achieved a strong performance in a tough environment. EBIT has expanded 30.6 percent year-on-year, and margins are stable at 8.4 percent."

He further mentioned, "Consumer Products continue to show signs of rural stress and weak consumer demand. Revenues have contracted 8 percent year-on-year. We continue to be cash flow positive and focus on our long-term strategic objectives with a continued push on new products and brand strengthening."

Bajaj Electricals reported a consolidated net profit decline of 38.87 percent to Rs 370.36 million for the December quarter. According to a regulatory filing by Bajaj Electricals, the company had stated that it had posted a net profit of Rs 610.12 million in the corresponding quarter of the previous year. During the quarter under review, the revenue from operations witnessed a decrease of 6.2 percent to Rs 12.28 billion. In the year-ago period, it stood at Rs 13.09 billion. The total income of Bajaj Electricals for the December quarter was Rs 12.20 billion, reflecting a 1.28 percent decline. The revenue from Consumer Products (CP) observed a 7.96 percent decrease to Rs 9.56 billion, in contrast to the corresponding quarter's Rs 10.39 billion. In an earnings statement, Bajaj Electricals revealed that the CP business recorded an EBIT (Earnings Before Interest and Taxes) of Rs 160 million, down from Rs 780 million in the previous year's corresponding quarter, primarily due to a one-time impact on the reassessment of warranty provisions. The revenue from lighting solutions remained almost flat at Rs 2.71 billion, compared to Rs 2.7 billion a year ago. Shekhar Bajaj, the Chairman, commented on the results, stating, Lighting solutions have achieved a strong performance in a tough environment. EBIT has expanded 30.6 percent year-on-year, and margins are stable at 8.4 percent. He further mentioned, Consumer Products continue to show signs of rural stress and weak consumer demand. Revenues have contracted 8 percent year-on-year. We continue to be cash flow positive and focus on our long-term strategic objectives with a continued push on new products and brand strengthening.

Next Story
Resources

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India’s first Rent Credit Score™ platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe’s payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..

Next Story
Real Estate

Supreme Unveils New Brand Identity to Elevate Lifestyle

Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group’s refreshed vision to ‘Elevate Lifestyle’. This brand transformation represents more than a visual refresh—it marks a strategic shift in the company’s mission, visual identity and market positioning. The update will be visible across all of Supreme’s digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..

Next Story
Infrastructure Urban

Capri Loans Launches #TarrakiKeHaath Campaign Honouring India’s Everyday Heroes

Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India — from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans’ long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat’s economy. Conceptualized by Rediffusion Brand Solutions, the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?