Bajaj Electricals Q2 income up by 24 pc

Mumbai, Oct 22: Bajaj Electricals Ltd on Wednesday, Oct 22 announced a 24 per cent increase in its income, including sales, for the second quarter of the current fiscal on a year on year basis at Rs 378.6 crore. The net profit earned was Rs 12.2 Crore.

During the first half of the current year (2008-09) net sales/income from operations is higher by 25 per cent at Rs 695.9 crore as against Rs 556.4 crore in the first half of the previous year. The Profit before Tax has improved marginally at Rs 34.8 crore as against Rs 33.03 crore in the previous year for the first half. The net profit for the period has grown by six per cent at Rs 22.2 crore, as against a profit of Rs 20.9 crore in the corresponding period of the previous year.

Bajaj Electricals Chairman and Managing Director Shekhar Bajaj, commenting on the results, said the company has taken steps to cope up with some slow down in demand and higher operating costs consequent to the global turmoil impacting on India.

Company Executive Director Anant Bajaj said the exports would be stronger in view of the order book size of Rs 850 crore.

UNI