Bajaj Electrical shines on back of Q3 results

Bajaj Electrical reported extremely strong set of numbers for the third quarter of FY19. 
  
The company’s standalone revenue for the quarter jumped to Rs. 2,161.83 crore from Rs. 1,145.13 crore in Q3FY18, registering whopping 89.5 per cent yoy growth. This was primarily driven by stellar performance in EPC division which recorded revenue of Rs. 1,401.18 crore from Rs. 544.91 crore in Q3FY19. Also, consumer division recorded 27 per cent yoy growth to Rs. 760.6 crore.

EBITDA for the quarter doubled to Rs. 137.79 crore with a corresponding margin expansion of 60 bps. EBITDA margin for the quarter stood at 6.4 per cent. The PAT for the quarter came in at Rs. 63.92 crore, yoy increase of 73.6 per cent. Finance cost for the quarter jumped 132 per cent yoy to Rs. 33.3 crore. 
  
With response to this strong set of numbers, the stock of Bajaj Electrical spiked almost 10.3 per cent to touch intra-day high of Rs. 523 apiece. The stock for the day settled at Rs. 518.8 apiece.