BENGALURU (Reuters) – India’s Bajaj Electricals Ltd reported a near 27% surge in third-quarter profit on Thursday, aided by higher demand for consumer goods such as room heaters and lighting products that helped cushion a hit from rising expenses.
Consolidated net profit rose to 611.2 million rupees ($7.46 million) for the three months ended Dec. 31, compared to 482.1 million rupees a year earlier.
Revenue from its consumer products business, which includes room heaters, air cooler and kitchen appliances and accounts for nearly 70% of total sales, rose about 10% to 10.39 billion rupees.
This helped overall revenue from operations to climb 12.5% to 14.84 billion rupees in the quarter.
Expenses remained elevated in the quarter, rising nearly 13%. The company’s order book stood at 14.74 billion rupees as of Jan. 1.
Shares of the company were flat at 1,147 rupees in afternoon trading.
($1 = 81.8850 Indian rupees)
(Reporting by Navamya Ganesh Acharya in Bengaluru; editing by Eileen Soreng)
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