Bajaj Electricals Ltd 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 December 31, 2022, helped by growth in the consumer product segment.
The company had posted a net profit of Rs 48.17 crore during the October-December quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing.
Its revenue from operations was up 12.47 per cent to Rs 1,484.49 crore during the quarter under review as against Rs 1,319.81 crore of the corresponding quarter.
Bajaj Electricals' total expenses were at Rs 1,419.06 crore, up 12.48 per cent in Q3/FY23 as against Rs 1,261.50 crore a year ago.
It's revenue from consumer products segment was up 9.45 per cent at Rs 1,039.48 crore in the December quarter. It was at Rs 949.73 crore a year ago.
However, its revenue from the lighting solutions segment was down 2.29 per cent to Rs 270 crore from Rs 276.33 crore in FY22.
Revenue from engineering, procurement and construction (EPC) was up 86.67 per cent 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."
Shares of Bajaj Electricals Ltd on Thursday ended at Rs 1,123.05 on BSE, down 2.32 per cent from the previous close.
