Bajaj Electricals Ltd today reported a net loss of Rs 14.21 crore for the second quarter ended September 30, due to higher fixed costs and lower sales from consumer durables and lighting segments.
The company had reported a net loss of Rs 15.35 crore in the same period of the previous fiscal, Bajaj Electricals said in a BSE filing.
"While fixed cost remained high, we did not get required volumes, top-line growth has not come. We expect to do well in the third and fourth quarter as sales from consumer durables segment has started picking up," Bajaj Electricals Managing Director Shekhar Bajaj told PTI.
Its net sales during the second quarter of 2014-15 stood at Rs 1,028.63 crore, up 9.32 per cent, from Rs 940.92 crore during the same period last year.
On company's performance during the current financial year, Bajaj said: "We are looking at a turnover of Rs 4,700 crore this fiscal as against Rs 4,060 crore last year. Consumer durables and luminaries segment are expected to do well."
However, Bajaj said that the company's lighting division is not expected to do well in the next 1-2 quarters, as it is working on developing more LED technology-based products.
During the quarter under review, revenues from the lighting business stood at Rs 225.95 crore, as against Rs 250.93 crore, while revenues from consumer durables segment increased to Rs 465.74 crore from Rs 449.09 crore.
Revenues from the engineering and projects segment were at Rs 337.29 crore in the quarter under review as against Rs 241.59 crore in the year-ago period.
The company's shares closed at Rs 244.70 apiece, down 11.53 per cent from their previous close on the BSE.
