Anuj Poddar, Executive Director of Bajaj Electricals spoke to CNBC-TV18 about the company’s second quarter earnings.
“We had a phenomenal quarters in terms of profit and loss, topline, bottom-line and our balancesheet. The consumer demand is back in the economy, we have seen good topline growth and our consumer business is at 13 percent.”
“EPC business which has usually been a drag, I think this quarter we benefited by having certain project closures and we have delivered a positive bottom-line on EPC business as well after several quarters.”
He furthered added, “Consumer business margin is up from about 4.7 percent last year to 10.7 percent this year in Q2. That quite frankly is not sustainable at this level, Q3 margins will see a slight reduction.”
He said, “This margin we have achieved on the back of significant cost cuts including advertisements and other cost cuts.”
“Our first target really is to do last year’s full year number and achieve that this year and then see if the current demand trends continue and we actually deliver growth in it. But we do want to make up in the 9.5 months of this year for the 12 month number of last year’s that is target one, post that it is a bonus.”
To know more about the company's Q2 performance, watch the video.