Bajaj Electricals Q1 profit dips 9.8% to Rs 37 crore

Bajaj Electricals' total expenses were almost flat at Rs 1,079.02 crore during the quarter, while total revenue maintained its level from the previous year at Rs 1,132.04 crore.

Its revenue from the consumer products segment was up 2.01 percent at Rs 872.60 crore in the quarter under review as against Rs 855.36 crore last year.

However, revenue from its lighting solutions segment was down 12.52 percent to Rs 239.53 crore from Rs 273.83 crore in the June quarter last year.

Bajaj Electricals has demerged its engineering, procurement and construction (EPC) business after approval by NCLT Mumbai and accordingly, the segment has been shown as discontinued operations, said an earnings statement by the company.

"The company has achieved a stable performance in a challenging environment. Consumer products revenues have grown 2 percent during the quarter, despite demand slowdown and pricing constraints. The lighting solutions segment is also facing demand headwinds," Bajaj Electricals Chairman Shekhar Bajaj said.

The company kept its focus on our long-term strategic objectives with a continued push on new products and brand strengthening, he added.

Shares of Bajaj Electricals closed at Rs 1,222.95 apiece on Thursday, down 1.81 per cent, on the BSE.