Bajaj Electricals surges 18%, hits new high on robust Q3 results

The company's consumer product business has delivered a strong growth in this quarter despite continuing supply challenges and increase in commodity prices

Shares of Bajaj Electricals hit a new high of Rs 907, surging 18 per cent in intra-day deals on the BSE on Friday after the company reported robust consolidated net profit of Rs 98 crore in December quarter (Q3FY21), on strong performance by consumer products (CP) business. The household appliances maker had profit of Rs 9 crore in a year ago quarter.

For Q3FY21, the company has achieved sales of Rs 1,500 crore as against Rs 1,284 crore, an increase of 16.8 per cent over the third quarter of the previous year. The earnings before interest and tax  (EBIT)