Bajaj Electricals' Profit Plunge: A 52.7% Dip in Q2

Bajaj Electricals reported a 52.7% drop in net profit for Q2, 2024, amounting to Rs 12.90 crore, as opposed to Rs 27.28 crore the previous year. Revenue saw a minor increase to Rs 1,118.33 crore. Consumer product revenue rose slightly, while lighting solutions dipped.

Bajaj Electricals Ltd announced a significant decline in its consolidated net profit for the second quarter, ending September 2024. The company's net profit plummeted by 52.7% to Rs 12.90 crore, compared to Rs 27.28 crore during the same period last year.

Despite the drop in profits, Bajaj Electricals' revenue from operations showed a slight increase, reaching Rs 1,118.33 crore in the reviewed quarter, marginally up from Rs 1,112.82 crore a year ago. However, total expenses rose by 3.73%, amounting to Rs 1,118.80 crore.

The consumer products segment saw a modest rise in revenue by 1.24%, achieving Rs 868.27 crore, while the lighting solutions segment experienced a 2% drop in revenue. Shares of Bajaj Electricals closed at Rs 919.10 on BSE, marking a 4.03% increase.

(With inputs from agencies.)