Bajaj Electricals advanced 1.98% to Rs 1,125 after its EPC business segment (power distribution) secured contracts for supply of goods and services from the South Bihar Power Distribution Company (SBPDCL) for Rs 564.87 crore.
The contracts are received under under revamped reforms-based and results-linked distribution sector scheme (RDSS), through national competitive bidding, from SBPDCL.The order entails supply of Plant and Installation Services (contracts), for development of distribution infrastructure of electric supply circle Sasaram in Rohtas and Kaimur districts and electric supply circle Munger in Munger and Lakhisarai districts of Bihar.
The aggregate value of projects is Rs 564.87 crore and shall be completed within 30 months from the date of issue of contracts.
Bajaj Electricals, a part of Bajaj Group, makes consumer products (appliances, fans, lighting) and executes EPC contracts (illumination, transmission line towers and power distribution).
The company had reported a consolidated net profit of Rs 42.96 crore in Q1 FY23 as against a net loss of Rs 21.87 crore in Q1 FY22. Net sales rose 42.3% YoY to Rs 1,202.10 crore in Q1 FY23.
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