Bajaj Electricals reports Q2 net profit of ?53 crore

Bajaj Electricals on Thursday reported a consolidated net profit of ?53.11 crore for the second quarter ended September 30, on account of higher income.

The company had posted a net loss of Rs 32.54 crore for July-September period of the previous fiscal.

Total income in the second quarter stood at ?1,226.7 crore, up 10.83% as compared with ?1,106.80 crore in the year-ago period, Bajaj Electricals said in a regulatory filing.

It said the business normalised in the quarter after being impacted in April-June owing to temporary suspension of manufacturing facilities, sales and distribution due to the outbreak of COVID-19.

“The consumer products business has shown signs of very strong recovery in this quarter…Our EPC (engineering, procurement and construction) segment has also recovered strongly in this quarter after being adversely affected due to hold up of project execution and billings,” Chairman and Managing Director Shekhar Bajaj said.

Shares of the company were trading 4.60% higher at ?509 apiece on the BSE.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

News Source:- livemint

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