The consumer electronics firm posted a 948 percent year-on-year (YoY) jump in the December quarter (Q3) consolidated net profit at Rs 98.2 crore. The company had posted a profit of Rs 9.37 crore in the year-ago period.
Bajaj Electricals Ltd.
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Bajaj Electricals share price surged over 13 percent intraday on February 5 after the company declared its Q3 results.
The consumer electronics firm posted a 948 percent year-on-year (YoY) jump in the December quarter (Q3) consolidated net profit at Rs 98.2 crore. The company had posted a profit of Rs 9.37 crore in the year-ago period. For Q3, the income from operations stood at Rs 1,500 crore, a YoY rise of 16.8 percent.
For the quarter, Consumer Products (CP) segment saw a 34 percent YoY growth in revenue to Rs. 1,153 crore. The Earnings before Interest and Tax (EBIT) for this segment stood at Rs 142 crore, showing a 115 percent rise over the year-ago period.
The CP operating margins stood at 12.3 percent. On the other side, EPC segment has achieved a total revenue of Rs 347 crore, registering a de-growth of 18 percent over the corresponding quarter of the previous year.
The stock was trading at Rs 874.80, up Rs 106.90, or 13.92 percent. It has touched a 52-week high of Rs 907. It has touched an intraday high of Rs 907.00 and an intraday low of Rs 791.
Shekhar Bajaj, Chairman and Managing Director of Bajaj Electricals said that the CP business has delivered a strong growth in this quarter despite continuing supply challenges and increase in commodity prices and has delivered its highest ever quarterly EBIT of Rs 142 crore.
“Our EPC segment has reduced its loss, while continuing to focus on execution and working capital. Further, we have maintained our strong focus on cashflows from operations in this quarter too, generating a healthy Rs 142 crore, thereby further reducing our debt significantly,” he added.
The order book as on January 1, 2021 stands at Rs 1,220 crore. This comprises of Rs 388 crore for transmission line towers, Rs 501 crore for power distribution, and Rs 331 crore for illumination projects.
