Orient Electric Q2 net up six-fold to Rs 32.42 cr

Orient Electric has reported an over six-fold jump in its net profit to Rs 32.42 crore in the second quarter ended September 30, helped by lower expenses.

Orient Electric has reported an over six-fold jump in its net profit to Rs 32.42 crore in the second quarter ended September 30, helped by lower expenses. The CK Birla group firm had posted a net profit of Rs 4.92 crore in the corresponding period of the previous financial year, Orient Electric said in a regulatory filing.

Its revenue from operations was down 0.2 per cent to Rs 433.77 crore during the period, against Rs 434.65 crore in the corresponding period of the previous financial year. Orient Electric's total expenses stood at Rs 391.21 crore in the second quarter of 2020-21, as against Rs 427.75 crore, down 8.54 per cent.

Shares of Orient Electric Ltd were trading 5.54 per cent higher at Rs 214.45 on the BSE.