Shares Bajaj Electricals rose 1.44 per cent to close at Rs 1,219.40 after the company reported better-than-expected quarterly results. Bajaj Electricals said its profit for the March quarter grew 34.10 per cent YoY to Rs 52 crore from Rs 39 crore in the same quarter last year. Revenue for the quarter grew 11.7 per cent to Rs 1,490 crore from Rs 1,334 crore YoY.
The company said its consumer segment saw high single digit growth on account of brand investments, premiumisation and better product mix. The revival in the EPC segment was on the course with increasing quarterly run-rate towards a viable business size with healthy order book, the company said.
In the Lighting solutions segment, professional lighting continued to scale up along with market share gains and posted a strong quarter, Bajaj Electricals said. The consumer lighting sub-segment, however, witnessed noticeable industry slowdown, which resulted in de-growth, Bajaj Electricals said.
"Good growth in consumer products in a tough market, despite demand slowdown and pricing constraints. EPC has exited the year with positive EBIT after a span of 3 years," said Praveen Sahay – Research Analyst, Prabhudas Lilladher.
He said revenue for the quarter came in higher than Prabhudas Lilladher's estimate of Rs 1,300 crore. Gross margin, he said, expanded 300bps YoY to 28.2 per cent, which was lower than Prabhudas Lilladher's estimate of 30.7 per cent. Ebitda at Rs 88.80 crore was higher than PL's estimate of Rs 80.50 crore.
Margins expanded 120 basis points YoY to 6 per cent against PL's estimate of 6.2 per cent, PBT grew 45.6 pr cent YoY to Rs 86.20 crore against PL's estimate of Rs 66.30 crore while adjusted PAT grew 39.3 per cent YoY to Rs 58.70 crore against PL's Rs 49.60 crore estimate.
Also read: SpiceJet shares nosedive 17%, down for 6th day. Here's why
Also read: Reliance Power shares jump 14% today amid heavy volumes; here's why