India's Bajaj Electricals Q3 profit rise 27%

Bajaj Electricals

02/02/2023 08:33

BENGALURU, Feb 2 (Reuters) - India's Bajaj Electricals
Ltd  BJEL.NS  reported a near 27% surge in third-quarter profit
on Thursday, aided by higher demand for consumer goods such as
room heaters and lighting products that helped cushion a hit
from rising expenses. 
    Consolidated net profit rose to 611.2 million rupees ($7.46
million) for the three months ended Dec. 31, compared to 482.1
million rupees a year earlier. 
    Revenue from its consumer products business, which includes
room heaters, air cooler and kitchen appliances and accounts for
nearly 70% of total sales, rose about 10% to 10.39 billion
rupees. 
    This helped overall revenue from operations to climb 12.5%
to 14.84 billion rupees in the quarter.
    Expenses remained elevated in the quarter, rising nearly
13%. The company's order book stood at 14.74 billion rupees as
of Jan. 1. 
    Shares of the company were flat at 1,147 rupees in afternoon
trading. 
($1 = 81.8850 Indian rupees)
 (Reporting by Navamya Ganesh Acharya in Bengaluru; editing by
Eileen Soreng)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))