Bajaj Electricals today reported over 8-fold increase in net profit at Rs 5.63 crore for the quarter ended June 30 on good performance of engineering and projects division and higher sales, particularly in the consumer durables segment.
Bajaj Electricals has dipped nearly 8% to Rs 308, falling 11% from intra-day high on BSE, after reporting a lower-than-expected net profit of Rs 6 crore for the quarter ended June 2014 (Q1), mainly due to poor performance by the consumer durables segment
In its 75th year in 2014, Bajaj Electricals is targeting a sales turnover of over Rs 5,000 crore in 2014-15. This financial year, ending March, 2014, it is working to touch Rs 4,200-4,300 crore revenues.
Bajaj Electricals Limited (BEL), a consumer electrical equipment manufacturing company of the Rs 38,000-crore Bajaj Group, is putting up its second water heater plant at Nashik with an estimated investment of Rs 25 crore, said executive director PS
Bajaj Electricals is looking to double its turnover from exports by 2014-15 to around Rs 100 crore banking on entering new markets. The company expects to end this year with an export of around Rs 50 crore.
Hit by losses incurred in engineering and project segment, Bajaj Electricals today reported a sharp decline in net profit to Rs 63 lakh for the January-March quarter, 2013, against Rs 48.99 crore profit in the same period last year.