Bajaj Electricals on Thursday reported an increase of 26.88 per cent in its consolidated net profit to Rs 61.12 crore in the third quarter ended 31, December 2022, as per company’s regulatory filing.
Bajaj Electricals reported a net profit of Rs 48.17 crore for the October-December quarter of the previous fiscal in a regulatory filing.
Its income from operations increased 12.47 percent to Rs 1,484.49 crore in the current quarter, compared to Rs 1,319.81 crore in the previous quarter.
In Q3/FY2, Bajaj Electricals’ total costs were Rs 1,419.06 crore, a 12.48 percent increase over the previous quarter. Its consumer products revenue increased 9.45 percent to Rs 1,039.48 crore in the December quarter. A year earlier, it was Rs 949.73 crore.
However, sales from the lighting solutions market fell 2.29 percent to Rs 270 crore in FY22, from Rs 276.33 crore.
Engineering, procurement, and construction (EPC) revenue increased by 86.67% to Rs 175.01 crore in Q3/FY23.
Bajaj Electricals Chairman Shekhar Bajaj said: “Consumer products revenues have crossed Rs 1,000 crore for the quarter, which has helped achieve a PBT growth of 25.2 per cent, in a tough market. EPC has delivered positive EBIT for the current quarter coupled with a strong focus on the collection of receivables.”
Bajaj Electricals shares closed at Rs 1,123.05 on the BSE on Thursday, down 2.32 percent from the previous close. 3 compared to Rs 1,261.50 crore the previous year.