Bajaj Electricals posts Rs.46.90 crore Net Profit in Q4

Mumbai, May 28 (IANS): Bajaj Electricals posted a net profit of Rs.46.90 crore in the fourth quarter of 2014-15 against a loss of Rs. 10.65 crore in the corresponding timeframe in 2013-14. The net income from operations in the first three months of 2015 increased by 3.2 percent to Rs.1,311.68 crore against Rs.1,270.97 crore in the corresponding quarter of the previous year.

During Q4, the consumer durables segment earned a total revenue of Rs.546.15 crore against Rs.532.97 crore during the same timeframe in the previous fiscal. The lighting segment, with a total revenue of Rs.271.89 crore has, however, degrown by 8.6 percent when compared with the corresponding previous quarter.

The EPC segment, during the period, grew by 12.1 percent with total revenue of Rs.493.54 crore against Rs.440.28 crore during the same timeframe in 2014.

“With the old legacy projects having been completed and non-collectable receivables provided for, the operations of the project business have resulted in a strong turn around in the fourth quarter of fiscal period 2014-15 with revenue growth of 12.1 percent. Necessary controls being in place, this segment is going to be a major contributor to the company’s revenue in the current financial year,” joint managing director Anant Bajaj said in a statement.

For the fiscal, the company’s net sales rose by 5.7 percent at Rs.4,258.11 crore against Rs.4,029.83 crore in 2013-14.
However, net loss widened by nearly 163 percent at Rs.13.95 crore during 2014-15 against Rs.5.31 crore in 2013-14.