Schneider Electric's Profitable Quarter: A Leadership Shift Amidst Financial Growth

Schneider Electric Infrastructure Ltd has reported a 27% increase in net profit to Rs 54.27 crore for the September 2024 quarter, helped by higher income. The company has also announced leadership changes, with Chinmoy Das appointed as Additional Director and Whole-Time Director, effective November 14, 2024.

Schneider Electric Infrastructure Ltd (SEIL) has announced a significant rise in net profit, up nearly 27% to Rs 54.27 crore for the September 2024 quarter, compared to Rs 42.86 crore in the same period last year, attributed to increased income.

The company's total income surged to Rs 608.64 crore from Rs 497.64 crore for the comparable period in the previous fiscal year. In a major leadership transition, SEIL's board has appointed Chinmoy Das as Additional Director and Whole-Time Director for a duration of three years, with his tenure commencing on November 14, 2024.

This appointment follows the recommendation of the Nomination and Remuneration Committee. Additionally, SEIL announced the resignation of Amol Phatak, Non-Executive Non-Independent Director, due to his new role within the Schneider Electric Group. SEIL operates manufacturing facilities in Vadodara, Kolkata, and Chennai.

(With inputs from agencies.)