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Last Updated : Aug 07, 2019 03:10 PM IST | Source: Moneycontrol.com

Bajaj Electricals Q1 consolidated net profit down 65.8%

Income from operations rose by 14.1 per cent YoY to Rs 1,300.69 crore.

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Electrical goods maker Bajaj Electricals posted a 65.8 per cent year-on-year (YoY) drop in its June quarter consolidated net profit, at Rs 13.70 crore.

The Q1FY20 numbers were weighed down as these included the results of Nirlep Appliances, which the company acquired in August 2018.  Bajaj Electricals also saw a rise in other expenses and finance costs, which too impacted the bottom-line.

The finance costs were up by 182 percent YoY to Rs 49.86 crore in the June quarter. Similarly, other expenses were up by 19.8 percent YoY to Rs 190.39 crore in Q1.

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Income from operations rose by 14.1 per cent YoY to Rs 1,300.69 crore. Among the business segments, consumer durables saw a 31.7 per cent rise in revenue to Rs 786.27 crore in the first quarter. EPC business saw a 5.3 per cent drop in revenues to Rs 514.32 crore in the quarter.

Shekhar Bajaj, Chairman and Managing Director of Bajaj Electricals said that operating profit has increased by 21.4 percent YoY to Rs. 51.01 crore, though there has been increase in publicity spend by about Rs. 6 crore.

On the EPC side, the company aims to do business with selective and risk calibrated approach. The current order book stands at Rs 1556 crore, comprising of Rs 496 crore for transmission line towers, Rs 916 crore for power distribution, and Rs 144 crore for illumination projects.

At 1.44pm, the stock was trading at Rs 364.50, up 0.08 per cent compared to the previous day's close on the BSE.

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First Published on Aug 7, 2019 02:03 pm
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