New Delhi, August 29: Bajaj Electrical has reported a marginal rise in net profit to Rs 1.39 crore in the first quarter of 1998-99, against Rs 1.11 crore in the corresponding period last year.The company's net sales rose to Rs 68.26 crore from Rs 55.86 crore in first quarter of 1997-98. Gross profit before interest, depreciation and taxation was up to Rs 4.37 crore from Rs 3.50 crore.
Meanwhile, the company plans to double its authorised share capital to Rs 20 crore by issuing one crore redeemable preference shares of Rs 10 each. In a statement, Bajaj Electricals chairman and managing director Shekhar Bajaj said the company plans to set up a Rs 25 crore high mast lighting manufacturing facility.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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