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Bajaj Electricals profit misses consensus by 95.4% in fiscal Q1


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Bajaj Electricals profit misses consensus by 95.4% in fiscal Q1

Bajaj Electricals Ltd said its normalized net income for the fiscal first quarter ended June 30 came to 46 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 10.12 rupees per share.

EPS climbed year over year from 11 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.6 million rupees, an increase from 10.8 million rupees in the year-earlier period.

The normalized profit margin increased to 0.5% from 0.1% in the year-earlier period.

Total revenue increased 13.3% year over year to 8.86 billion rupees from 7.82 billion rupees, and total operating expenses increased 12.0% on an annual basis to 8.57 billion rupees from 7.65 billion rupees.

Reported net income grew on an annual basis to 56.3 million rupees, or 55 paise per share, from 6.6 million rupees, or 7 paise per share.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.