Bajaj Electricals posted a net profit of Rs 18.91 crore for the quarter ended 31 March 2007 as compared to Rs. 13.58 crore in the corresponding period in the previous year, higher by 39%. The company registered net sales of Rs 372.42 crore during the quarter, 27.09% higher as compared to Rs 293.03 crore in the corresponding period last year. For the financial year 2006-07 the company posted a net profit of Rs 38.53 crore, a growth of 37 per cent from Rs 28.20 crore last year. Net sales for the year were Rs 1,078.86 crore compared to Rs 845.4 crore in the previous year, higher by 27.61 per cent. The company has entered the rural electrification sector to reap the benefits of reforms in the Indian power sector. It has got an order worth Rs. 53 crore to electrify 40,000 Below Poverty Line (BPL) families across 900 villages in Chhattisgarh.Shekhar Bajaj, chairman and managing director, Bajaj Electricals said in a statement, "the board has recommended a issue of bonus shares in the ratio of 1:1. The directors have also recommended that the interim dividend of 80% be treated as the final dividend." He added that "We have invested and acquired a 32% stake in Starlite Lighting and this will act a strong pivot for our ambitious growth plan in CFLs. We have also plans of entering new categories like inverters, gas appliances and water dispensers.
