Bajaj Electricals' net rose to Rs 20.3 crore in Q1 ended June 30 against Rs 5.6 crore, an increase of 262.5%. Company's net income surged by 13.7% to Rs 1,009.1 crore against Rs 887.6 crore in the corresponding previous quarter.
The engineering, procurement and construction (EPC) segment registered a total revenue of Rs 330.2 crore with a growth of 54.2% as against the revenue of Rs 214.2 crore. EPC segment registered a turnaround in its operations to earn profit of Rs 19.3 crore against the loss of Rs 5.9 crore in the corresponding quarter of the previous year.
The company joint managing director Anant Bajaj said, "With a good order book of Rs 3,226 crore, comprising power distribution projects of Rs 2,242 crore, transmission line towers projects of Rs 806 crore and illumination projects of Rs 178 crore, the EPC segment is expected to be a major contributor to the overall performance of the company during the current year.”