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New Delhi (PTI): Bajaj Electricals Ltd on Monday reported a consolidated net loss of Rs 34.10 crore for the September quarter of FY26 due to contraction in gross margin and impact from new labour codes.
The company had posted a net profit of Rs 33.36 crore in the October-December period of the year-ago period, according to a regulatory filing from Bajaj Electricals.
Bajaj Electricals reported an exceptional item (net loss) of Rs 28.89 crore in the December quarter, mainly due to the implementation of new Labour Codes.
It had a loss before exceptional items and tax of Rs 20.28 crore in the quarter under review.
Bajaj Electricals revenue from operations was down 18.5 per cent to Rs 1,050.91 crore in the December quarter compared to Rs 1,289.72 crore in the corresponding quarter a year ago.
Its gross margin contracted due to lower volume across high-margin categories, said Bajaj Electricals.
Bajaj Electricals' total expenses in the December quarter were at Rs 1,085.78 crore, down 13.62 per cent.
Its revenue from Consumer Products (CP) was down 25.2 per cent to Rs 776.81 crore in the December quarter. It was at Rs 1,038.45 crore in the corresponding quarter of FY'26.
This "de-growth on a YoY basis due to channel stock normalisation across all categories and high base on a YoY basis," it said.
However, its revenue from Lighting Solutions was up 9 per cent at Rs 274.10 crore in the December quarter. This growth is due to increased mix towards focus categories, the company said in its post-earnings presentations.
Total income, which includes other income, of Bajaj Electricals was at Rs 1,065.50 crore, down 18.19 per cent in the December quarter.
"Growth in Lighting Solutions (LS) offset by de-growth in Consumer Products (CP) due to moving to a more balanced approach between demand-led sell-through and volume-led push," it said.
Moreover, the board of Bajaj Electricals in its meeting held on Monday also approved sale of its Sion Office Properties in Rs 26.53 crore to Bajaj General Life Insurance and Bajaj Life Insurance Company, based on the recommendation of the Audit Committee.
Shares of Bajaj Electricals Ltd on Monday settled at Rs 408.95 on BSE, down 0.62 per cent, on the BSE.