Bajaj Electricals today posted a 53.4% growth in its net profit at Rs 57.46 crore for the quarter ended March 31, as against the year-ago period.
The company, which makes fans and other appliances, had a net profit of Rs 37.46 crore in the quarter ended March 31, 2010, Bajaj Electricals said in a statement.
Besides, it announced 140% dividend of Rs 2.80 a share of Rs 2 each for the financial year 2010-11.
During the quarter under review, Bajaj Electricals' net sales stood at Rs 979.38 crore, which is a 24.9% increase from Rs 783.98 crore posted in the corresponding quarter last fiscal.
"It was a difficult quarter with significant margin pressures due to commodity pressures. We have taken the right pricing decisions along with focus on profitable growth. The demand for all our products continues to be robust," Bajaj Electricals Chairman and Managing Director Shekhar Bajaj said.
For the year-ended March 31, 2011, the firm's net profit rose by 22.8% to Rs 143.79 crore. In the previous fiscal, it had a net profit of Rs 117.09 crore.
During the fiscal, the company posted net sales of Rs 2,739.43 crore, a 23% jump from Rs 2,227.16 crore recorded in the year-ago period.
Shares of Bajaj Electricals closed at Rs 237.60 on the Bombay Stock Exchange, up 2.33% from the previous close.
