Bajaj Electricals profit declines 56%

New Delhi: Bajaj Electricals Ltd on Monday reported a 56 per cent decline in consolidated net profit to Rs 27.28 crore for the September quarter on account of weak consumer demand. The company had posted a net profit of Rs 62 crore in the July-September period a year ago, according to a regulatory filing. Its net sales declined 3.76 per cent to Rs 1,107.40 crore in the second quarter of the current fiscal as against Rs 1,150.77 crore in the year-ago period. “The company has achieved a stable performance amidst a weak consumer demand sentiment,” its chairman Shekhar Bajaj said in an earnings statement. Bajaj Electricals’ total expenses in the September quarter rose 1.2 per cent to Rs 1,097.11 crore.