Bajaj Electricals reported an exceptional item (net loss) of Rs 28.89 crore in the December quarter, mainly due to the implementation of new labor laws.It had a loss before exceptional items and taxes of Rs 20.28 crore in the quarter under review.
Bajaj Electricals’ revenue from operations fell 18.5 percent to Rs 1,050.91 crore in the December quarter, compared to Rs 1,289.72 crore in the corresponding quarter a year ago.
Gross margin contracted due to lower volume in high-margin categories, Bajaj Electricals said.
Bajaj Electricals’ total expenses in the December quarter stood at Rs 1,085.78 crore, down 13.62 percent. Consumer Products (CP) revenue fell 25.2 per cent to Rs 776.81 crore in the December quarter. It stood at Rs 1,038.45 crore in the corresponding quarter of FY’26.
This “reduction in year-over-year growth is due to the normalization of channel shares across all categories and a high year-over-year base,” the report said.
However, Lighting Solutions’ revenue rose 9 percent to Rs 274.10 crore in the December quarter. This growth is due to the increased mix by focus categories, the company said in its presentations after the earnings figures.
Total revenues, including other income, of Bajaj Electricals stood at Rs 1,065.50 crore, down 18.19 percent in the December quarter.
“The growth in Lighting Solutions (LS) is offset by the decline in growth in Consumer Products (CP) due to the transition to a more balanced approach between demand-driven sell-through and volume-driven push,” the report said.
Moreover, the Bajaj Electricals board at its meeting on Monday also approved the sale of its Sion Office Properties for Rs 26.53 crore to Bajaj General Life Insurance and Bajaj Life Insurance Company, based on the recommendation of the Audit Committee.
Shares of Bajaj Electricals Ltd settled at Rs 408.95 on BSE on Monday, down 0.62 percent on the BSE.
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