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Bajaj Electricals expects to maintain 25% growth in consumer segment going forward

Updated : November 01, 2018 05:50 PM IST

Consumer durables firm Bajaj Electricals on Thursday said the company expects to maintain 20-25 percent growth in consumer segment going forward.

The company on Thursday posted a 79.56 percent year-on-year jump in standalone net profit at Rs 34.08 crore for the second quarter ended September.

It had reported a net profit of Rs 18.98 crore in the corresponding quarter last fiscal.

Total income increased to Rs 1,604.20 crore during the quarter under review, from Rs 946.13 crore in the same quarter last fiscal.

In this quarter 25 percent of the growth came from the consumer segment and going forward the company expects 20-25 percent would continue as well, said Shekhar Bajaj, CMD, Bajaj Electricals.

Because of the company’s strong distribution and consistent pricing policy they do not give discounts on account of festivals but the consumers are confident of buying their products, Bajaj said.

He also confirmed that Anuj Poddar who was the independent director has been elevated as the chief executive officer of the company.
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