Bajaj Electricals Ltd. announced its financial results for the quarter ended June 30 on Thursday, August 7, reporting a sharp year-on-year decline across all key performance indicators.The company’s net profit plummeted by 96.8% to ₹0.9 crore, as compared to ₹28.1 crore reported in the corresponding quarter of the previous financial year.
Revenue from operations fell by 7.8% year-on-year, to ₹1,064.6 crore from ₹1,155 crore in the year-ago period.Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) dropped by 55.8% to ₹33.4 crore, as against ₹75.6 crore in the same quarter last year.
Operating margin contracted to 3.1%, compared to 6.6% in the year-ago quarter.
Shares of Bajaj Electricals Ltd. are now trading 1.34% lower on Thursday at ₹587.85. The stock has fallen 15% in the last one month and down 23% on a year-to-date basis.
