Bajaj Electrical PAT up 28% to Rs 28.61 cr

New Delhi, May 29 (UNI) Bajaj Electricals Ltd today said its profit before tax for the quarter ended March 31, 2007 rose to 28 per cent at Rs 28.61 crore against Rs 22.29 crore in the corresponding period previous year.

The net profit for the quarter has increased to 39 per cent at Rs 18.91 crore as compared to Rs 13.58 crore in the corresponding period last year.

For FY0607, the company's PAT rose to 28 per cent at Rs 60.29 crore against that of Rs 46.98 crore last year. The net profit also rose to 37 per cent at Rs 38.53 crore this fiscal from Rs 28.20 crore last fiscal, the company said in a statement.

The gross sales in the quarter ended March 31, 2007 increased by 25 per cent to Rs 389.08 crore from Rs 310.16 crore in the last quarter. For the fiscal 2007, it rose to 27 per cent at Rs 1,113 crore as against Rs 878 crore in the previous year.

''In keeping with the aspirations of our shareholders, the board has recommended an issue of bonus shares in the ratio of 1:1. The directors have also recommended that the interim dividend of 80 per cent be treated as the final dividend,'' company's Chairman and Managing Director Shekhar Bajaj said.

The company has invested and acquired a 32 per cent stake in Starlite Lighting and plans to enter new categories like inverters, gas appliances and water dispensers, he added.

The comapny has got an order worth Rs 53 crore to electrify 40,000 below poverty line (BPL) families across 900 villages in Chhattisgarh.

UNI