New Delhi: Bajaj Electricals Ltd on Thursday reported a 23.96% increase in its net profit to Rs36.83 crore for the quarter ended in December 2017, compared to Rs29.71 crore a year ago.

The company’s income from operations stood at Rs1,140.70 crore, up from Rs1,052.08 crore in the same period of the previous fiscal, Bajaj Electricals said in a regulatory filing.

Income from operations is not comparable due to the introduction of GST from 1 July, which replaced excise duty and other input taxes, the company said.

On Thursday, Bajaj Electricals shares closed 4.61% up at Rs509.55 apiece on BSE.