Bajaj Electricals Q3 profit down 17.5% at Rs 29.71 cr

Bajaj Electricals today reported a decline of 17.47 per cent in standalone net profit at Rs 29.71 crore for the quarter ended on December 31, 2016, on account of fall in sales of consumer products.
The company had registered a net profit of Rs 36 crore in October-December period a year-ago, Bajaj Electricals said in a BSE filing.
Its total income during the quarter under review was also down 7.05 per cent to Rs 1,055.09 crore as against Rs 1,135.17 crore of the corresponding quarter of last fiscal.
Total expenses were down 5.97 per cent to Rs 995.67 crore in the third quarter of 2016-17 as against Rs 1,058.94 crore in the year-ago period.

During the quarter, revenue from consumer products segment was down 14.57 per cent to Rs 589.54 crore as against Rs 690.15 crore of the last fiscal.
However, its EPC section registered a growth of 4.61 per cent year-on-year in revenue at Rs 465.40 crore in the period.
Shares of Bajaj Electricals were trading 0.98 per cent up at Rs 252 in afternoon trade on BSE.