Bajaj Electricals shares sink 12% on weak Q2 results

Shares of Bajaj Electricals Ltd tanked nearly 12 per cent today after the company reported a net loss of Rs 14.21 crore for the second quarter ended September.
Bajaj Electricals' stock ended the day 11.53 per cent lower at Rs 244.70 on the BSE. In intra-day, it slumped 15.61 per cent to Rs 233.40.
On the NSE, the scrip plunged 11.78 per cent to end the day at Rs 244.15.
The company's market valuation fell by Rs 320.7 crore to Rs 2,464.30 crore.
On the volume front, 7.31 lakh shares of the company changed hands at the BSE, while over 41 lakh shares were traded at the NSE during the day.

The company had reported net loss of Rs 15.35 crore in the same period of the previous fiscal, Bajaj Electricals said in a BSE filing today.

Its net sales during the second quarter of 2014-15 stood at Rs 1,028.63 crore, up 9.32 per cent, from Rs 940.92 crore during the same period last year.
Revenues from the lighting business stood at Rs 225.95 crore, as against Rs 250.93 crore, while revenues from consumer durables segment increased to Rs 465.74 crore from Rs 449.09 crore.
Revenues from the engineering and projects segment were at Rs 337.29 crore in the quarter under review as against Rs 241.59 crore in the year-ago period.