Consumer Durables News

Orient Electric Q1 Results: Orient Electric Q1 Results: Profit soars over 3-fold, revenue up 47.2%

New Delhi: CK Birla group company on Monday reported over threefold jump in net profit to Rs 18.95 crore for the first quarter ended on June 30, 2022. The company had posted a net profit of Rs 5.01 crore in the April-June quarter of the last fiscal.

Its revenue from operations was up 47.19 per cent to Rs 621.63 crore during the period under review against Rs 422.32 crore in the corresponding period of the previous fiscal, Orient Electric said in a regulatory filing.

Total expenses were at Rs 601.43 crore, up 44.43 per cent in April-June 2022-23 against Rs 416.41 crore in the year-ago quarter.

Its revenue from the electrical consumer durables segment was at Rs 445.34 crore in the June quarter, up 37.41 per cent, as against Rs 324.09 crore.

The revenue of lighting & switchgear segment was up 79.46 per cent to Rs 176.29 crore in the first quarter as against Rs 98.23 crore in the year-ago quarter.

Shares of settled at Rs 287.70 on BSE, up 0.30 per cent from the previous close.

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