Orient Electric Q1 Profit Down 27.2% to Rs 14.34 cr

New Delhi, Aug 1 (PTI) Orient Electric Ltd on Thursday reported a decline of 27.17 per cent in its net profit to Rs 14.34 crore for the first quarter ended June 30.

It had posted a net profit of Rs 19.69 crore in the April-June quarter last fiscal, according to a regulatory filing from the CK Birla group firm.

However, its revenue from operations grew 6.97 per cent to Rs 754.86 crore during the period under review. It was Rs 705.63 crore in the corresponding period of the previous fiscal.

The total expenses of Orient Electrics increased 8.23 per cent to Rs 738.07 crore in the June quarter.

Orient Electric's total income, in the June quarter, increased 6.9 per cent to Rs 757.33 crore.

Its revenue from Electrical Consumer Durables rose 5.79 per cent to Rs 544.87 crore.

Lighting & Switchgear segment grew 10.17 per cent to Rs 209.99 crore.

Shares of Orient Electric Ltd on Thursday settled at Rs 284.75 on BSE, down 2.13 per cent from the previous close.