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Bajaj Electricals profit misses consensus by 62.8% in fiscal Q4

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Bajaj Electricals profit misses consensus by 62.8% in fiscal Q4

Bajaj Electricals Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was 3.25 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 8.73 rupees per share.

The per-share result swung to a profit from the prior-year loss of 91 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 326.2 million rupees, compared with a loss of 90.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.5% from negative 0.7% in the year-earlier period.

Total revenue rose on an annual basis to 12.96 billion rupees from 12.40 billion rupees, and total operating expenses totaled 12.24 billion rupees, compared with 12.30 billion rupees in the year-earlier period.

Reported net income totaled 468.9 million rupees, or 4.67 rupees per share, compared to a loss of 107.0 million rupees, or a loss of 1.07 rupees per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1.33 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 2.64 rupees.

EPS was a loss of 36 paise in the prior year.

Normalized net income was a loss of 133.2 million rupees, compared with a loss of 36.4 million rupees in the prior year.

Full-year total revenue rose 5.5% on an annual basis to 42.40 billion rupees from 40.17 billion rupees, and total operating expenses rose 5.8% year over year to 41.79 billion rupees from 39.49 billion rupees.

The company said reported net income totaled a loss of 139.5 million rupees, or a loss of 1.39 rupees per share, in the full year, compared with a loss of 53.6 million rupees, or a loss of 53 paise per share, the prior year.

As of July 8, US$1 was equivalent to 63.52 Indian rupees.