Bajaj Electricals posts Rs 54.26 cr net profit

Its consumer products segment has earned a total revenue of Rs 975 crore as against Rs 747 crore a year ago, a growth of 30.6 per cent.

New Delhi: Bajaj Electricals on Tuesday reported a consolidated net profit of Rs 54.26 crore for the quarter ended March 31, 2021. It had registered a net loss of Rs 81 lakh in the January-March period of the previous financial year. The company’s total revenue from operations in January-March 2021 stood at Rs 1,258.47, down 3.24 per cent as against Rs 1,300.66 crore in the year-ago period, the company said in a BSE filing.

Its consumer products segment has earned a total revenue of Rs 975 crore as against Rs 747 crore a year ago, a growth of 30.6 per cent. Bajaj Electricals’ EPC (engineering, procurement and construction) segment has achieved a total revenue of Rs 283 crore in the fourth quarter of last fiscal as against Rs 554 crore, a decline of 48.9 per cent over a year ago.

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Bajaj Electricals chairman and managing director Shekhar Bajaj said that the consumer products business has delivered a strong performance in this quarter, despite a sharp rise in commodity prices and a weakening of overall demand sentiment. “Our EPC segment has further reduced its loss, while continuing to focus on execution and working capital. On a full-year basis, despite it being a pandemic-impacted year, we have delivered strongly to our overall strategy in line with our long-term vision,” he added.

In a separate filing, Bajaj Electricals said its board of directors has considered and approved the scheme of merger by absorption of Starlite Lighting Ltd with it and their respective shareholders. The scheme is subject to the necessary statutory and regulatory approvals, including nod from the National Company Law Tribunal, the shareholders and creditors of each of the companies.

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