Bajaj Electricals Ltd reported a decline in net profit and margins for the June 2024 quarter. The company’s net profit dropped by 24.3% year-on-year to ₹28.1 crore.
Financial Highlights
- Net Profit: ₹28.1 crore, a 24.3% decrease from ₹37.13 crore in the same quarter last year.
- Revenue: Increased by 3.8% year-on-year to ₹1,154.9 crore compared to ₹1,108 crore in the previous year. On a quarter-on-quarter basis, revenue fell by 2.5% from ₹1,181 crore.
- EBITDA: ₹76 crore, a marginal 1% dip from ₹77 crore in the year-ago period.
- EBITDA Margin: Decreased to 6.6% from 6.9% in the same quarter last year.
Segment Performance
- Consumer Products (CP) Revenue: ₹905 crore, a 3.7% increase from ₹873 crore last year.
- CP EBIT: Dropped by 44% to ₹23 crore from ₹41 crore in the year-ago period.
Additional Insights
- Positive Cash Flow: The company generated positive cash flow from operations of ₹155 crore.
- Cash Equivalents and Surplus Investments: Stood at ₹442 crore.
| Metric | Q1 FY25 | Q1 FY24 | QoQ Comparison |
|---|---|---|---|
| Net Profit | ₹28.1 crore | ₹37.13 crore | ₹29.3 crore |
| Revenue | ₹1,154.9 crore | ₹1,108 crore | ₹1,181 crore |
| EBITDA | ₹76 crore | ₹77 crore | – |
| EBITDA Margin | 6.6% | 6.9% | – |
| CP Revenue | ₹905 crore | ₹873 crore | – |
| CP EBIT | ₹23 crore | ₹41 crore | – |
Outlook
Chairman Shekhar Bajaj stated, “Revenues for the company have grown at 3.8% with consumer demand having bottomed out and green shoots visible in rural demand. Lighting Solutions EBIT margins are at 10.5%, due to improvement in overall gross margins.”
