Bajaj Electricals Q1 Results: Profit Falls 24%

Bajaj Electricals Ltd. reported a 24.3% fall in its net profit on a yearly basis for the first quarter of this financial year.

The consumer electrical equipment manufacturing company reported a bottom line of Rs 28 crore in the quarter-ended June, as compared with Rs 37 crore in the corresponding quarter of the previous fiscal, according to its stock exchange notification.

The company's revenue grew 3.8% year-on-year to Rs 1,155 crore. Operating income, or earnings before interest and tax depreciation and amortisation, fell 2.1% on a yearly basis to Rs 75 crore, while Ebitda margin contracted to 6.5% from 6.9% in the same quarter of the previous fiscal.

The core fast-moving electric goods segment saw 4% growth on a year-on-year basis, on the back of weak demand in kitchen appliances.

Shares of the company closed 0.44% higher at Rs 967 apiece, as compared with a 0.26% decline in the benchmark NSE Nifty 50.