Bajaj Electricals sales up 7.3% at Rs. 1029.41 cr

The company reported its income from operations at Rs.1029.41 cr, up 7.3% over the first quarter of the previous year.

PBT and PAT for the quarter have been Rs. 32.75 Cr and Rs. 20.50 Cr respectively, as against Rs. 36.74 Cr and Rs. 22.88 Cr in the corresponding quarter of the previous year.

For the quarter, Consumer Products segment of the company has earned total revenue of Rs.469.53 Cr, showing de-growth of 14.3% over the corresponding previous quarter.

On the other hand, EPC segment has registered a healthy growth of 36.1% with a total revenue of Rs.559.83 Cr, as against Rs. 411.44 Cr in the corresponding quarter of the previous year.

Shekhar Bajaj, Chairman and Managing Director of Bajaj Electricals Limited, said, “The performance of Consumer Products segment was impacted primarily on account of drop in sales ahead of GST rollout on 1st July, 2017 and drop in margin as a result of one-time compensation that the Company has to pay to its dealers/distributors for losses incurred by them on account of introduction of GST. However, we firmly believe that GST will have a positive impact on the company in terms of input tax credit and better market share. This coupled with complete rollout of RREP (Range and Reach Expansion Programme) during the year, would improve the performance of Consumer Products Segment in the coming years. "

EPC has registered a good performance backed by strong project execution, registering 36% growth in the revenue from operations and improvement in operating profit by 29% from Rs. 30.87 Cr to Rs. 39.77 Cr, over the corresponding previous period.

The current order book stands at Rs. 3380 Cr, comprising of Rs. 587 Cr for Transmission Line Towers; Rs. 2619 Cr for Power Distribution; and Rs. 174 Cr for Illumination Projects.