Household Appliances company Bajaj Electricals announced Q2FY24 & H1FY24 results: Revenue from operations: Rs 1,113 crore (Q2FY24) vs. Rs 1,159 crore (Q2FY23), a contraction of 4.0%. Profit Before Tax (PBT): Rs 45 crore (Q2FY24) vs. Rs 79 crore (Q2FY23). Profit After Tax (PAT): Rs 32 crore (Q2FY24) vs. Rs 58 crore (Q2FY23). Consumer Products (CP) Segment: Total Revenue: Rs 858 crore (Q2FY24) vs. Rs 883 crore (Q2FY23), a contraction of 2.9%. EBIT: Rs 41 crore (Q2FY24) vs. Rs 62 crore (Q2FY23). Lighting Solutions (LS) Segment: Total Revenue: Rs 255 crore (Q2FY24) vs. Rs 276 crore (Q2FY23), a contraction of 7.4%. EBIT: Rs 14 crore (Q2FY24) vs. Rs 26 crore (Q2FY23). The EPC business has been demerged from the company, effective from September 1, 2023. Overall, the company experienced a contraction in revenue and profitability in Q2FY24 compared to Q2FY23. The demerger of the EPC business may have impacted the financial results for this quarter. For H1FY24 the company reported positive cash flow from operations amounting to Rs 92 crore. Additionally, the company's cash equivalents and surplus investments totaled Rs 204 crore. Shekhar Bajaj, Chairman of Bajaj Electricals, said, “The Company has achieved a stable performance amidst a weak consumer demand sentiment. Consumer Products and Lighting Solutions revenues have contracted by 2.9% and 7.4% respectively, for the quarter, due to demand slowdown and pricing constraints. Meanwhile, we continue to monitor the demand and continue to focus on our long-term strategic objectives with a continued push for new products and brand strengthening. The EPC segment has been demerged from September 1, 2023 and has a positive outlook for the future.” Result PDF