Bajaj Electricals has posted a 50.88 per cent decline in its net profit to Rs 11.06 crore for the first quarter ended June 30, 2011 compared with Rs 22.52 crore in the same period last fiscal.
In a filing to the Bombay Stock Exchange, the company said its net sales increased 12.48 per cent to Rs 544.07 crore from Rs 483.69 crore.
Segment-wise, lighting business registered a revenue growth of 15.84 per cent to Rs 127.41 crore, while consumer durables business grew 15.51 per cent to Rs 303.09 crore. Besides, revenue from its engineering and projects stood at Rs 113.57 crore.
The company shares were trading at Rs 217.30 on the BSE, down 8.56 per cent from the previous close.