Orient Electric Ltd Q1FY24 results: Net profit at Rs 19 cr; revenue up 13%

The company's digital revenue recorded growth of 58 per cent YoY

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Illustration: Ajay Mohanty

BS Web Team New Delhi

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The standalone net profit of Orient Electric Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 3.9 per cent to Rs 19.69 crore, compared to Rs 18.95 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was down 20.02 per cent. In Q4FY23, the net profit of the company was Rs 24.62 crore.

The revenue from operations for Q1FY24 came in at Rs 705.63 crore, compared to Rs 621.63 crore year-on-year (YoY), rising 13.51 per cent.

On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 7.25 per cent. It was Rs 657.91 crore in Q4FY23.

The total income for Q1FY24 came in at Rs 708.49 crore, compared to Rs 626.82 crore YoY, up 13.02 per cent.

On a QoQ basis, the total income was up 6.66 per cent. It was Rs 664.25 crore in Q4FY23.

The company's digital revenue recorded growth of 58 per cent YoY.

The lighting and switchgear section reported growth of 8.1 per cent YoY, despite lower collections and price reduction in lamps.

At 1:35 pm, the Orient Electric stock was trading at Rs 230.25.

First Published: Aug 02 2023 | 1:55 PM IST

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