Schneider posts Rs 1.45 cr net profit in March quarter

Schneider Electric Infrastructure posted a net profit of Rs 1.45 crore in the March 2019 quarter.

The company had suffered a net loss of Rs 22.95 crore in the quarter ended March 31, 2018, a BSE filing said.

Its total income rose to Rs 320.64 crore in the March quarter as compared with Rs 292.10 crore a year ago.

Schneider Electric Infrastructure's loss narrowed to Rs 24.36 crore in 2018-19, from Rs 64.67 crore in the previous fiscal. Total income in 2018-19 increased to Rs 1,433.77 crore, against Rs 1,358.40 crore in 2017-18.

The company's business operations fall within a single primary business segment -- product and systems for electricity distribution.

The board has also approved the appointment of Piyush Pandey as an additional director and whole-time director of the company from May 22, 2019, for three years, which is subject to approval of the shareholders at the ensuing annual general meeting.

It also approved resignation of Vivek Sarwate from the board as a whole-time director of the company from Wednesday (May 22).