Bajaj Electrical reported a 28.73 percent decline in consolidated net profit at Rs 38.67 crore for the fourth quarter ended March 2022.
The company had posted a net profit of Rs 54.26 crore for the March quarter of the previous fiscal year, Bajaj Electricals said in a regulatory filing.
However, total revenue from operations was up 6.02 percent at Rs 1,334.32 crore during the quarter under review as against Rs 1,258.47 crore in the year-ago period.
Total expenses were at Rs 1,299.61 core in March quarter 2021-22 as compared to Rs 1,214.47 crore in the year-ago period.
Revenue from consumer products was at Rs 1,037.69 crore as against Rs 975.18 crore. Revenue from EPC (Engineering Procurement and Construction) was at Rs 296.50 crore as against Rs 283.17 crore. Bajaj Electrical Executive Director Anuj Poddar said it was a challenging quarter primarily because of the commodity cost pressure.
"We had a certain contraction in our margins but the good news is that we have maintained growth in our consumer business. This is the third consecutive quarter when we have clocked Rs 1,000 crore plus sales in the consumer business," Poddar said.
In some categories, such as fan and lighting, Bajaj Electricals has grown by over 20 percent and 30 percent in January-March.
"Our EPC business has done break even in Q4 which is important," he said.
Moreover, the company has also become "net-debt free" after almost two decades. Poddar added. For the fiscal year ended March 2022, Bajaj Electricals' consolidated net profit was down 34.16 percent at Rs 124.41 crore. It had logged a net profit of Rs 188.96 crore in 2020-21.
Revenue from operations was at Rs 4,727.69 crore in 2021-22 This was 3.97 percent higher than Rs 4,546.90 crore in the previous year. Shares of Bajai Electrical settled at Rs 988.85 apiece on Tuesday, up 8 24 percent from the previous close.
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