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

09 Feb 2024 CW Team

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."

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..