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Business News/ Companies / News/  Bajaj Electricals bags 565 cr contract from South Bihar Power Distribution Co
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Bajaj Electricals bags ₹565 cr contract from South Bihar Power Distribution Co

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

On the NSE, Bajaj Electricals stock opened at Rs645 then jumped 7.63% to an intraday high of Rs665.95, its 52-week high level. . Photo: BloombergPremium
On the NSE, Bajaj Electricals stock opened at Rs645 then jumped 7.63% to an intraday high of Rs665.95, its 52-week high level. . Photo: Bloomberg

Bajaj 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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Published: 04 Mar 2023, 10:21 PM IST
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