Bajaj Electricals today reported over 18-fold decline in its net profit at Rs 66 lakhs for the first quarter ended June 30, 2013, due to higher expenses. The company had a net profit of Rs 11.98 crore in the same period of previous fiscal, Bajaj Electricals said in a filing to the BSE. However, company's income from its operation increased to Rs 781.64 crore in the April-June quarter, compared to Rs 663.97 crore during the same period last year. Total expenses during the period under review jumped to Rs 767.28 crore as against Rs 634.82 crore in the year-ago quarter.
The company's revenue from the lighting segment was Rs 157.38 crore in the quarter as against Rs 152.46 crore for the corresponding period of last fiscal. Bajaj Electrical's revenue from consumer durables segment also increased to Rs 436.63 crore this quarter. It was Rs 390.76 crore in first quarter of the last year. Its revenue from engineering projects segment was Rs 189.28 crore this quarter as against Rs 123.20 crore in the year-ago period. The company's shares were trading at Rs 165.90 per scrip on BSE during the afternoon trade, down 6.19 per cent from its previous close.