New Delhi : Bajaj Electricals first quarter standalone net profit rose over threefold to 20.34 crore on account of turnaround in engineering and projects division and better product mix in consumer durable and lighting segments. Net sales stood at Rs 1,005.86 crore, up 13.95%.
“During the quarter our engineering and projects division has shown a turn around by completing the old projects, which were hanging out. We have recovered old money stuck in those legacy projects,” Bajaj Electricals Joint Managing Director Anant Bajaj told PTI.
Moreover, the company has also done product evaluations and has reduced its physical inventories. Bajaj Electricals’ revenue from lighting segment increased by 20.33% to Rs 202.93 crore while revenue from consumer durables segment declined by 5.70 per cent to Rs 475.81 crore.
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