Orient Electric's Profit Dips Amid Revenue Surge

Orient Electric Ltd reported a significant profit decline of 43.41% to Rs 10.44 crore for the quarter ending September 2024 despite a 16.44% revenue increase. The revenue rise was fueled by strong performance in lighting, appliances, and fans, aided by digital strategies and festive demand.

Orient Electric Ltd, a CK Birla group firm, recorded a notable decline in its net profit for the quarter ending September 2024, falling by 43.41% to Rs 10.44 crore. This is compared to a net profit of Rs 18.45 crore in the same period last year.

Despite this profit drop, the company's revenue from operations saw a 16.44% increase, reaching Rs 660.15 crore. The growth is attributed to strong performance in its lighting, appliances, and fans segments, bolstered by digital initiatives, festive season demand, and heightened realisations.

Orient Electric's total expenses for the quarter rose by 14.94% to Rs 650.11 crore, while its total income increased by 16.5% to Rs 664.34 crore. On the stock market, shares of Orient Electric Ltd closed at Rs 210.30 apiece on the BSE, a decrease of 1.61% from the prior close.

(With inputs from agencies.)