Bajaj Electricals Q2 net jumps 79.56% to Rs 34.08 cr

Consumer durables firm Bajaj Electricals Thursday posted a 79.56 per cent year-on-year jump in standalone net profit at Rs 34.08 crore for the second quarter ended September.

It had reported a net profit of Rs 18.98 crore in the corresponding quarter last fiscal.

Total income increased to Rs 1,604.20 crore during the quarter under review, from Rs 946.13 crore in the same quarter last fiscal, it said in a release.

During the quarter, the consumer products segment of the company earned a total revenue of Rs 642.29 crore, against Rs 514.11 crore over the same quarter last year.

Its engineering, procurement and construction (EPC) segment achieved a total revenue of Rs 955.90 crore, compared with Rs 421.34 crore last year.

Besides, the company Thursday said it has appointed Anuj Poddar as the executive director, with immediate effect.

He will be responsible for managing all the business verticals and its operations and will report to Shekhar Bajaj, the company's chairman and managing director.

Poddar has been associated with Bajaj Electricals as a non-executive, independent director on the board since May 2016. He joins the firm from Viacom 18 Media, where he was a part of its leadership team and was one of its founding team members.

The company's scrip was trading 4.38 per cent higher at Rs 507.80 apiece on the BSE at 1456 hours, against 0.01 per cent decline in the benchmark.