Orient Electric Q2 Profit Up 43.4% to Rs 10.4 Crore

New Delhi, Oct 25 (PTI) Orient Electric Ltd on Friday reported a 43.41 per cent decline in its net profit to Rs 10.44 crore for the second quarter ended September 2024.

It had posted a net profit of Rs 18.45 crore in the July-September quarter a year ago, according to a regulatory filing from the CK Birla group firm.

However, its revenue from operations increased 16.44 per cent to Rs 660.15 crore during the period under review. It was Rs 566.9 crore in the corresponding period of the last fiscal.

The revenue growth was driven by "...encouraging performance in the lighting, appliances and Fans segments on the back of digital thrust, festival lifting and higher realisations".

Its total expenses were Rs 650.11 crore, up 14.94 per cent, in the September quarter.

Orient Electric's total income, which includes other income, stood at Rs 664.34 crore, up 16.5 per cent.

Shares of Orient Electric Ltd on Friday settled at Rs 210.30 apiece on BSE, down 1.61 per cent from the previous close.