Bajaj Electricals net profit reaches Rs 1000 cr

Mumbai, Jan 30: Bajaj Electricals registered a net profit of Rs9.95 crore as compared to Rs 4.63 crore last year for the third quarterending December 31, showing a growth of 115 per cent.

Profit before tax for the quarter has grown to Rs 16.15 crore ascompared to Rs 10.12 crore for the same quarter last year, showing anincrease of 60 per cent. Net sales for the quarter grew by 20.5 percent from Rs 235.07 crore to Rs 283.30 crore.

Sales for the nine months ended December grew by 28 per cent to Rs706.28 crore from Rs 552.37 crore. The profit before tax showed anincrease of 28 per cent from Rs 24.69 crore to Rs 31.68 crore for thenine months. The Net profit for the nine months period rose to Rs 19.62crore as compared to Rs 14.62 crore showing a growth of 34 per cent.

Shekhar Bajaj, Chairman&Managing Director, Bajaj ElectricalsLimited said, ''We have achieved a turnover of Rs 1000 crore in thecalendar year 2006 and it is a significant landmark for us, goingahead''.

Anant Bajaj, the Executive Director, said ''In ruralelectrification, we will soon provide service connections to 40,000 BPL(Below Poverty Line) households in 900 villages worth Rs 53.75 crorethrough NTPC. We have also lighted up all the stadiums for theforthcoming National Games 2007 at Guwahati and will light up all thestadiums for the 2008 National Games at Ranchi.'' Talking about thecompany's projected growth by the end of the current fiscal, RRamakrishnan, Executive Director, said, ''We are confident of endingthe financial year well beyond the Rs 1000 crore mark.''

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