+
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
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?