Schneider Electric's Net Profit Plummets by 92.68% in March Quarter Due to Rising Expenses

Schneider Electric Infrastructure reported a steep 92.68% year-on-year decline in net profit to Rs 3.28 crore for the March quarter, primarily attributed to increased expenses. Despite this, the company's fiscal 2023-24 net profit rose to Rs 172.03 crore, up from Rs 123.63 crore the previous year.

Schneider Electric Infrastructure reported a on-year decline of 92.68 per cent in net profit to Rs 3.28 crore in March quarter, mainly due to higher expenses.

The company had reported a net profit of Rs 44.84 crore in the quarter ended on March 31, 2023, the company said in a regulatory filing.

Total expenses rose to Rs 436.43 crore in the quarter under review, from Rs 369.01 crore in the same period a year ago.

The net profit in fiscal 2023-24 rose to Rs 172.03 crore, from Rs 123.63 crore a year ago.

Total income of the company in financial year 2023-24 rose to Rs 2,215.98 crore, from Rs 1,789.39 crore in 2022-23.

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