Orient Electric's Mixed Financial Performance in Q1

Orient Electric Ltd experienced a 27.17% drop in net profit for Q1 ending June 30, but saw its revenue grow by 6.97% to Rs 754.86 crore. The company's total expenses rose by 8.23%, while shares settled at Rs 284.75, down 2.13% from the previous close.

Orient Electric Ltd on Thursday reported a significant 27.17 per cent decline in its net profit, amounting to Rs 14.34 crore for the first quarter ending June 30. This marks a substantial decrease from the Rs 19.69 crore net profit recorded in the same quarter of the previous fiscal year, as per regulatory filings from the CK Birla group firm.

Despite the dip in net profit, Orient Electric's revenue from operations saw a positive increase of 6.97 per cent, reaching Rs 754.86 crore during the period under review. This marks a rise from the Rs 705.63 crore reported in the corresponding period of the previous fiscal.

Total expenses for the company also grew, rising by 8.23 per cent to Rs 738.07 crore in the June quarter. The Electrical Consumer Durables segment's revenue climbed 5.79 per cent to Rs 544.87 crore, while the Lighting & Switchgear segment grew by 10.17 per cent to Rs 209.99 crore. On the BSE, shares of Orient Electric Ltd settled at Rs 284.75, down by 2.13 per cent from the last close.

(With inputs from agencies.)