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Bajaj Electricals Consol Net Profit Down 43.61% in Q4 FY24

May 14, 2024

By: BlinkX Research Team

Bajaj Electricals reported a decline of 43.61% in its consolidated net profit for the quarter ended March 2024 to 29.31 crore rupees against 51.98 crore rupees during the previous quarter ended March 2023.

Key Takeaways from Bajaj Electricals’ Performance:

• Consolidated net profit declined 43.61%.
• Revenue fell 8.4%.
• The board recommended a final dividend of Rs 3 per share.
•  Appointed Pooja Bajaj as an additional full-time director for 5 years.
   

Revenue from operations also declined 8.4% to 1,180.98 crore rupees in the fourth quarter of 2024 compared to 1,290.31 crore rupees during the previous quarter ended March 2023

The net profit for the full year declined 39.08% to 131.79 crore rupees in the year ended March 2024, as against 216.34 crore rupees during the previous year ended March 2023. 

Further, sales declined 5.04% to 4,622.35 crore rupees in the year ended March 2024 as against 4867.77 crore rupees during the previous year ended, March 2023.

Meanwhile, the company’s Board recommended a final dividend of Rs 3 per share, with shareholders' approval. 

Additionally, Bajaj Electricals appointed Pooja Bajaj as an additional full-time director with the designation and the title of executive director for five years effective from 14 May 2024 to 13 May 2029.

About Bajaj Electricals Ltd:

Bajaj Electricals Limited established in 1938 by Shri Jamnalal Bajaj is a globally renowned Indian consumer appliances and lighting solutions company. They have an expansive network of 18 branch offices, 660+ distributors, and 2 lakh retail outlets across India combined with over 620 consumer care centres reaching 19,000 pin codes. Bajaj Electricals are a front-runner in the industry with their key brands comprising BAJAJ, Nirlep, Morphy Richards and Nex.

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