Bajaj Electricals Q1 Net at Rs 5.6 crore

Bajaj Electricals today reported over 8-fold increase in its net profit at Rs 5.63 crore for the first quarter ended June 30, 2014, boosted by higher sales, particularly in consumer durables segment.

The company had posted a net profit of Rs 66 lakh in the same quarter of the previous fiscal, Bajaj Electricals said in a filing to the BSE.

Net sales during the period under review stood at Rs 885.96 crore as against Rs 787.19 crore in the same quarter last fiscal, it added.

During the quarter, the lighting segment had revenue of Rs 168.64 crore as compared to Rs 157.38 crore in the year-ago period.

Consumer durables segment had a revenue of Rs 504.5 crore as against Rs 432.08 crore, while engineering and projects had a revenue of Rs 214.23 crore as against Rs 199.38 crore.

Shares of Bajaj Electricals were trading at Rs 317.80 per scrip in the mid-day trade, down 4.69% from the previous close on the BSE.