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Bajaj Electricals posted a 15 per cent drop in net profit at Rs 49 crore (Rs 58 crore) for the quarter ended March 31, 2012.
Net sales were up eight per cent to Rs 1,060 crore (Rs 980 crore).
The board of directors recommended a 140 per cent dividend or Rs. 2.80 a share.
For FY 12, net sales were up 13 per cent at Rs 3,099 crore (Rs 2,741 crore), while net profit was down 18 per cent at Rs 118 crore (Rs 144 crore).
Mr Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals Ltd, said, “For the year ended 2011-12, the lighting segment continued its good work with a top line growth of 21.2 per cent with improvement in margins. Consumer durable segment also performed well, registering a growth of 17.5 per cent. However, market conditions such as commodity prices volatility and exchange rate fluctuations have impacted the margins of the consumer durable segment.”
On Monday, the company scrip closed 2.32 per cent down at Rs 214.65, on the BSE.
murug@thehindu.co.in
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