A stable pricing strategy, along with a strong order-book, led to Bajaj Electricals Ltd recording a 79.5 per cent jump in net profit to ₹34.08 crore for the second quarter ended September 2018, against ₹18.98 crore in the corresponding quarter last year.

The company’s income from operations increased 70.9 per cent to ₹1,598.44 crore (₹935.58 crore). The consumer products segment saw a growth of 24.9 per cent while the EPC (Illumination, Transmission Towers and Power Distribution) segment registered a growth of 126.9 per cent.

Shekhar Bajaj, Chairman and Managing Director, Bajaj Electricals, attributed the consumer products segment’s growth to a stabilised distribution and pricing strategy. Drawing on the price stability point, he explained how the company stopped offering special prices during Diwali two years ago.“Retailer confidence plays an important role as they are in a position to influence customers’ choice,” he said, adding that the lack of price differences will ensure that the dealers won’t have to worry about being undercut by somebody else.

“I think this growth in the consumer product segment will continue in the next quarters, and might even be faster. A growth of 20-25 cent growth is good because the market is only growing at 10-15 per cent,” he added.

The EPC segment has a good outlook, Bajaj said, especially because of an Uttar Pradesh project and a very strong order-book. “EPC brought in the maximum revenue and because of that, the bottomline growth has also gone up,” he added.