Orient Electric reports over 3 pct decline in net profit during Q3

CK Birla group firm Orient Electric on Monday reported a decline of 3.36 per cent in net profit to Rs 11.76 crore for the third quarter ended December 31, 2018. The company had reported a profit of Rs 12.17 crore in October-December 2017, Orient Electric said in a BSE filing.

However, the total income during the reported quarter was up 21.47 per cent to Rs 422.71 crore as against Rs 347.97 crore in the year-ago period. Total expenses were at Rs 404.98 crore as compared to Rs 329.25 crore in the corresponding period of 2017-18.

Revenue from electrical consumer durables was at Rs 284.67 crore and from lighting and switchgear segment at Rs 135.75 crore. In a separate filing, Orient Electric informed that its board on Monday approved an interim dividend of Rs 0.50 (50 per cent) per equity share of face value of Re 1 each for 2018-19. Shares of Orient Electric on Monday settled 3.93 per cent down at Rs 139.35 apiece on BSE.