Companies

Bajaj Electricals Q3 net jumps 73% to ₹ 64 cr

PTI New Delhi | Updated on February 07, 2019 Published on February 07, 2019

Shekhar Bajaj, CMD, Bajaj Electricals

Bajaj Electricals on Thursday posted 73.55 per cent rise in standalone net profit at ₹ 64 crore for October-December 2018 led by a robust performance in consumer products and EPC segments.

It reported a profit of ₹ 36.83 crore in the same period a year ago.

Total income was also up at ₹ 2,161.83 crore during the quarter , from ₹1,145.13 crore in the year-ago period.

“The current quarter has been extremely good for the company, with both business segments - Consumer Products (CP) and EPC - registering a robust performance,” Chairman and Managing Director Shekhar Bajaj said.

Total expenses were at ₹ 2,067.33 crore as against ₹ 1,097.51 crore in the year-ago period.

Revenue from CP segment was at ₹ 760.58 crore as against ₹ 600.18 crore earlier.

Engineering, procurement and construction (EPC) segment stood at ₹ 1,401.18 crore in the latest quarter against ₹ 544.91 crore in the year-ago period.

“EPC segment performance is driven by fast execution of UP power distribution projects, which have resulted in top line growth of over 157 per cent against the corresponding quarter of the previous year,” he said.

According to Bajaj, the current order book of EPC segment stands at ₹ 5,787 crore, comprising ₹ 1,004 crore for transmission line towers, ₹ 4,657 crore for power distribution and ₹126 crore for illumination projects.

The company also informed BSE that its board has approved a proposal to raise Rs 200 crore by issuing unsecured listed redeemable non-convertible debentures (NCDs) on private placement basis.

Shares of Bajaj Electricals on Thursday settled at ₹ 518.80 on BSE, up 9.44 per cent from the previous close.

Published on February 07, 2019
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