Bajaj Electricals Ltd, one of the leading electrical appliances manufacturers in India reported an increase of 26.88 percent in its consolidated net profit to Rs 61.12 crore in the third quarter ending December 31, 2022, helped by the growth in the consumer product segment.
The company had posted a net profit of Rs 48.17 crore during the October-December quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing. Its revenue from operations was up 12.47 percent to Rs 1,484.49 crore during the quarter under review, as against Rs 1,319.81 crore of the corresponding quarter.
Bajaj Electricals' total expenses were at Rs 1,419.06 crore, up 12.48 percent in Q3/FY23, as against Rs 1,261.50 crore a year ago. Its revenue from the consumer products segment was up 9.45 percent at Rs 1,039.48 crore in the December quarter. It was at Rs 949.73 crore a year ago.
However, the revenue from the lighting solutions segment was down 2.29 percent to Rs 270 crore from Rs 276.33 crore in FY22. Revenue from engineering, procurement, and construction (EPC) was up 86.67 percent to Rs 175.01 crore in Q3/FY23.
Shekhar Bajaj, Chairman, Bajaj Electricals said, "Consumer products revenues have crossed Rs 1,000 crore for the quarter, which has helped achieve a PBT growth of 25.2 percent, in a tough market. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables."