Bajaj Electricals net leaps 678%

Backed by volume growth and reduction in operating costs, Bajaj Electricals has registered a quantum leap in its net profit for the first quarter ended June 30, 2005 at Rs 5.14 crore as against Rs 0.66 crore posted in the same period last fiscal.

The company has also declared a dividend of 30%, Bajaj Electricals said in a release today.

The company's net income increased by 26% to Rs 137.5 crore as against Rs 108.8 crore in the first quarter of the previous fiscal, the company said.

"With the good growth in the first quarter over the corresponding period of the previous year, we expect the process of turnaround to continue. The company has an order book of Rs 150 crore in it's power transmission business," Shekhar Bajaj, chairman and managing director added.