Bajaj Electricals Q1 net profit at Rs 41.19 cr; sales up 42% to Rs 1,202 cr

Bajaj Electricals Ltd on Friday reported a consolidated net profit of Rs 41.19 crore for the first quarter ended June 30.

The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing.

Its net sales rose 42.25 per cent to Rs 1,202.10 crore during the quarter under review against Rs 845.04 crore in the corresponding period of the preceding fiscal.

Bajaj Electricals' total expenses increased 31.66 per cent to Rs 1,180.71 crore in Q1 FY2022-23 against Rs 896.78 crore in the year-ago period.

"We have delivered a stable performance in this quarter on all parameters despite the pressures of commodity inflation and demand slowdown in the latter part of the quarter. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables," Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said.

Its revenue from 'Consumer Products' grew 57.62 per cent to Rs 972.93 crore in the April-June quarter against Rs 617.26 crore a year ago.

The revenue from the engineering, procurement and construction (EPC) segment rose 6.9 per cent Rs 256.07 crore from Rs 239.52 crore.

"The order book as of July 1, 2022, stands at Rs 913 crore, comprising of Rs 714 crore for Transmission Line Towers, Rs 11 crore for Power Distribution and Rs 188 crore for Illumination Projects," said an earning statement from the company.

Shares of Bajaj Electricals Ltd on BSE were trading at Rs 1,164.05 on Friday afternoon, up 0.72 per cent from its previous close.