 "Bajaj Electricals tanks on weak Q2 results")
Bajaj Electricals has tanked 12% to Rs 243 on BSE after reporting a net loss of Rs 14 crore for the second quarter ended September 2014 (Q2), due to poor performance from the lighting and consumer durables divisions.The company had loss of Rs 15.35 crore during the same quarter last year and a profit of Rs 5.63 crore in June 2014 quarter.
Analyst on an average had expected net profit of Rs 25 crore for the quarter.
Operational income of the company grew by 9% year-on-year (yoy) to Rs 1,029 crore from Rs 941 crore. The raw material and interest cost increased by over 30% over the previous year quarter.
PBIT (profit before interest and tax) of lighting segment more than halved to Rs 6.42 crore from Rs 19.14 crore, while consumer durable business recorded 28% yoy decline to Rs 27.82 crore. Engineering and project segment however, trimmed its losses before interest and tax to Rs 28 crore from Rs 43 crore during the recently concluded quarter.
The stock opened at Rs 278 and touched a low of Rs 233 on BSE. The counter has seen over ten-fold jump in trading volumes with a combined 3.74 million shares changed hands till 1430 hours on BSE and NSE.
Analyst on an average had expected net profit of Rs 25 crore for the quarter.
Operational income of the company grew by 9% year-on-year (yoy) to Rs 1,029 crore from Rs 941 crore. The raw material and interest cost increased by over 30% over the previous year quarter.
PBIT (profit before interest and tax) of lighting segment more than halved to Rs 6.42 crore from Rs 19.14 crore, while consumer durable business recorded 28% yoy decline to Rs 27.82 crore. Engineering and project segment however, trimmed its losses before interest and tax to Rs 28 crore from Rs 43 crore during the recently concluded quarter.
The stock opened at Rs 278 and touched a low of Rs 233 on BSE. The counter has seen over ten-fold jump in trading volumes with a combined 3.74 million shares changed hands till 1430 hours on BSE and NSE.
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