New Delhi: Bajaj Electricals Ltd on 29 May reported a 39% increase in its net profit for the quarter ended March 31 at Rs 18.91 crore compared to Rs 13.58 crore in the corresponding quarter last fiscal.
The company’s gross sales in the quarter grew 25% at Rs 389.08 crore as against Rs 310.6 crore in the same quarter previous year, Bajaj Electricals said in a statement.
Bajaj Electricals also declared a final dividend of 80% for the fiscal year ended March 31.
“We have invested and acquired 32% stake in Sterlite Lighting and this will act as a strong pivot for our ambitious growth plan in CFLs,” Bajaj Electricals chairman and managing director Shekhar Bajaj said in the statement.
The company’s net profit in the fiscal ended March 31, stood at Rs 38.53 crore as against Rs 28.2 crore in the previous fiscal, up 37% year-on-year, while its gross sales in the fiscal grew 27% to Rs 1,113 crore.