Bajaj Electricals Q2 net up 14% at Rs 19 cr

The company said gross sales for the quarter is not comparable with the previous period due to GST implementation

Bajaj Electricals on Thursday reported a 13.92 per cent increase in its net profit at Rs 18.98 crore for the September quarter of the current fiscal.

The company had posted a net profit of Rs 16.66 crore during the same period of the previous fiscal, Bajaj Electricals said in a stock exchange filing.

Total income during the quarter under review stood at Rs 935.54 crore. It was Rs 1,005.75 crore in the July-September quarter of 2016-17.

The company said gross sales for the quarter is not comparable with the previous period due to implementation of GST from July 1.

"Revenue from operations for periods up to June 30, 2017 includes excise duty, which is discontinued effective July 1, 2017 upon implementation of GST," Bajaj Electricals said.

Therefore GST is not included in gross sales, it added.

Revenue from EPC segment was Rs 421.34 crore during the quarter as against Rs 439.24 crore a year ago.

The revenue from consumer products division during the period stood at Rs 514.11 crore compared with Rs 566.12 crore in the same period of the previous fiscal.

The company's stock was trading 0.98 per cent higher at Rs 383 apiece on BSE today.