Bajel Projects hits the roof on turnaround Q4 numbers

Bajel Projects was locked in upper circuit of 5% at Rs 280.05 after the company reported net profit of Rs 7.07 crore in Q4 FY24 as against net loss of Rs 0.78 crore posted in corresponding quarter last year.

Revenue from operations stood at Rs 489.16 crore in the quarter ended 31 March 2024, up 147.34% from 197.77 crore in same quarter previous fiscal.

The firm recorded profit before tax of Rs 6.41 crore in March 2024 quarter as against pre-tax loss of Rs 0.67 crore posted in March 2023 quarter.

Total expenses spiked 135.77% YoY to Rs 493.14 crore during the quarter. Cost of raw materials consumed was Rs 46.44 crore (up 99.06% YoY), erection & subcontracting expenses was at Rs 32.85 crore (up 297.91% YoY) and employee benefits expenses stood at Rs 23.83 crore (up 25.09% YoY) during the period under review.

On a full year basis, the power utilities company reported a net profit of Rs 4.29 crore in FY24 as against net loss of Rs 1.58 crore in FY23. Revenue from operations jumped 76.17% to Rs 1,169.21 crore in FY24 over FY23.

Bajel Projects (BPL) is a leading company in the business of power infrastructure, with a strong presence in the Power Transmission and Power Distribution sectors. BPL was formerly part of Bajaj Electricals under the EPC segment.

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