Bajaj Electricals bags ₹565 cr contract from South Bihar Power Distribution Co
1 min read 04 Mar 2023, 10:21 PM ISTThe contract is for supply of goods and services by South Bihar Power Distribution Company Ltd (SBPDCL), a domestic entity, under the Revamped Distribution Sector Scheme
PremiumBajaj Electricals on Saturday said its EPC division has bagged a contract worth ₹564.87 crore from South Bihar Power Distribution Company Ltd (SBPDCL).
The contract is for supply of goods and services by South Bihar Power Distribution Company Ltd (SBPDCL), a domestic entity, under the Revamped Distribution Sector Scheme (RDSS), the company said in a regulatory filing.
The work includes the supply of plant and installation services for the development of distribution infrastructure of electric supply circle Sasaram and Munger of Bihar, it added.
“Distribution Infrastructure of Electric Supply Circle Sasaram (Rohtas and Kaimur districts); and Distribution Infrastructure of Electric Supply Circle Munger (Munger and Lakhisarai districts) of Bihar," said Bajaj Electricals in the filing.
The projects, whose aggregate value is ₹564.87 crore "shall be completed within 30 months from the date of issue of contracts," it added.
“EPC Business Segment (Power Distribution) of the Company has been awarded the contracts for supply of goods and services by SBPDCL, a domestic entity, under RDSS Scheme," it added in its filing.
Bajaj Electricals is a part of the country's leading business house Bajaj Group. It had a turnover of ₹4,813 crore in FY22.
Bajaj Electricals Ltd reported an increase of 26.88 per cent in its consolidated net profit to ₹61.12 crore in the quarter ended December 2022. This is against a net profit of ₹48.17 crore in the corresponding quarter last fiscal.
Its revenue from operations was up 12.47 per cent to ₹1,484.49 crore during the quarter under review as against ₹1,319.81 crore of the corresponding quarter.
Bajaj Electricals' total expenses were at ₹1,419.06 crore, up 12.48 per cent in Q3FY23 as against ₹1,261.50 crore a year ago.
It's revenue from consumer products segment was up 9.45 per cent at ₹1,039.48 crore in the December quarter. It was at ₹949.73 crore a year ago.
However, its revenue from the lighting solutions segment was down 2.29 per cent to ₹270 crore from ₹276.33 crore in FY22.
Revenue from engineering, procurement and construction (EPC) was up 86.67 per cent to ₹175.01 crore in Q3FY23.
On Friday, the company's scrip ended 0.25% down at ₹1,103.15 on BSE.
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