Bajaj Electricals reported a 27% year-on-year increase in net profit to Rs 61 crore for the third quarter ended December 31, 2022.
Revenue from operations stood at Rs 1,484 crore, a 12% y-o-y rise during the quarter. The consumer products segment earned a total revenue of Rs 1,039 crore, a 9% increase y-o-y. The segment recorded an Ebit (earnings before interest and tax) of Rs 78 crore, lower by nearly 14.3% y-o-y, while operating margins came in at 7.5%.
The lighting solutions segment earned a total revenue of Rs 270 crore, a decline of 2% y-o-y, while the Ebit of Rs 17 crore was higher over the same period last year. Operating margins for the segment were at 6.4%.
The EPC segment achieved a total revenue of Rs 175 crore, registering an 87% y-o-y growth over the year-ago period. EPC recorded a profit of Rs 1 crore against a loss of Rs 9 crore a year ago.
“Consumer products revenues have crossed Rs 1,000 crore for the quarter, which has helped achieve a profit before tax growth of 25.2% in a tough market. EPC has delivered a positive Ebit for the current quarter coupled with a strong focus on collection of receivables,” said Shekhar Bajaj, chairman, Bajaj Electricals.
The order book as on January 1, 2023, stands at Rs 1,474 crore, comprising of Rs 1,211 crore for transmission line towers, Rs 11 crore for power distribution and Rs 252 crore for illumination projects.