Bajaj Electricals Q2 net up 9%
Nov 1, 2011 I Business Line I Mumbai
Bajaj Electricals has posted a nine per cent rise in net profit at Rs 250M ($5.2M) for the second quarter ended September 30, 2011. Net sales increased 19 per cent to Rs 7.0B ($144.3M).
During the quarter, the lighting and consumer durable segments logged Rs1.9B ($39.2M) and Rs 3.4B ($70.1M), registering a growth of 25 per cent and 21 per cent, while the engineering and project segment was up 10 per cent at Rs 1.7B ($35.1M).
Mr Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals, said, “The company has managed top line growth of 19.2 per cent during the quarter. The lighting segment has done particularly well with good top line growth and improved margins.
“With second half of the year being the peak season, the company expects an improved performance with better margins. Market conditions though remain tough with competitive pressures and commodity price volatility.”