Shares of Bajaj Electricals today advanced by nearly 5 per cent after the company posted over three-fold rise in its first quarter standalone net profit at Rs 20.34 crore.
The stock ended the day with a gain of 4.77 per cent at Rs 273.65 on the BSE. During the day, it surged 7.12 per cent to Rs 279.80.
On the NSE, the stock rose by 4.8 per cent to settle at Rs 273.70.
The company's market valuation rose by Rs 125.78 crore to Rs 2,758.78 crore.
Bajaj Electricals first quarter standalone net profit rose over three-fold to Rs 20.34 crore on account of turnaround in engineering and projects division and better product mix in consumer durable and lighting segments.
The company had posted a net profit of Rs 5.63 crore in the same quarter of the previous fiscal, Bajaj Electricals said in a BSE filing today.
Net sales on standalone basis during the period stood at Rs 1,005.86 crore, up 13.95 per cent as against Rs 882.71 crore in the same quarter of the last fiscal, it added.
