Bajaj Electricals Q1 net jumps 98% to Rs 40.53 crore

Bajaj Electricals today reported a 97.70 per cent jump in standalone net profit at Rs 40.53 crore for the first quarter ended June 30, 2018.

The company had registered a net profit of Rs 20.50 crore in April-June period a year-ago.

Its total income in the quarter under review stood at Rs 1,149.24 crore. It was Rs 1,039.90 crore in the year-ago period, Bajaj Electricals said in a BSE filing.

The company said gross sales figures, part of total income, for the quarter ended 30 June 2018, is not compatible with the previous periods presented in the results post implementation of GST with effect from July 1, 2017.

For the quarter, consumer products segment of the company has earned total revenue of Rs 596.86 crore as against Rs 469.53 crore, a growth of 27.1 per cent over the corresponding previous quarter.

Its engineering, procurement and construction (EPC) segment achieved a total revenue of Rs 542.96 crore, registering a de-growth of 3 per cent.

Shares of Bajaj Electricals were trading at Rs 626 apiece, up 0.47 per cent, from previous close on BSE.