The negative growth of around 31 percent in the lightings segment led to - 5.4 percent growth in consumer products, which in turn was the reason for a poor second quarter performance, said Shekhar Bajaj, Chairman & Managing Director, Bajaj Electricals.
However, other appliances like fans, Morphy Richards showed improvement in growth, he said.
Low demand for CFL impacted consumer products segment. Going forward the lightings segment will continue to be weak but growth in other segments will help both bottomline and topline growth, said Bajaj. EPC segment is now back on profitable track and is seeing good order inflow.
EPC segment margins were up to 7.5 percent from 6.4 percent.
Sales for this quarter stood at about Rs 1,000 crore,said Bajaj.
Net profit for the quarter was down 10.8 percent at Rs 16.6 crore versus 18.7 crore for the same quarter earlier fiscal. The year-on-year (YoY) total income too was down 10.4 percent at Rs 1,005.7 crore versus Rs 1,122.1 core. EBITDA for quarter ended September 30 was down 2.7 percent at Rs 45.2 crore versus Rs 51.8 crore YoY and EBITDA margins came in 4.5 percent versus 4.6 percent YoY.For full discussion, watch accompanying video...
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