India's Bajaj Electricals falls as weak demand halves Q2 profit

Bajaj Electricals

06/11/2023 09:02

** Shares of Bajaj Electricals  BJEL.NS  down as much as
4.6% to 994.80 rupees
    ** Co says Q2 profit that more than halved as its consumer
segment was impacted by weaker demand; rev down 2.5%
    ** Consumer products and lighting solutions revenues have
contracted by 2.9% and 7.4%, respectively, due to demand
slowdown and pricing constraints, co says
    ** About 163,882 shares change hands, 3x 30-day avg
    ** BJEL shares were last down 1%
    ** Co shares down ~ 4% YTD
    

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))