Orient Electric tumbles after Q3 PAT drops 27% YoY to Rs 38 cr

Orient Electric fell 4.17% to Rs 348.35 after the company's net profit fell 26.68% to Rs 38.08 crore on 9.71% increase in net sales to Rs 678.35 crore in Q3 December 2021 over Q3 December 2020.

During the quarter, revenue from electrical consumer durables segment rose 4.53% to Rs 481.30 while revenue from lighting & switchgear segment rose 24.80% to Rs 197.05 crore.

The company's profit before tax fell 26.66% to Rs 50.93 crore in Q3 December 2021 over Q3 December 2020.

Total expenses jumped 14.33% to Rs 628.31 with cost of materials consumed rising 13.09% to Rs 220 crore during the period under review.

 

The board declared an interim dividend of Rs 0.75 per equity share of Re 1 each of the company.

Orient Electric, a part of the CK Birla Group, makes lifestyle electrical solutions which include fans, lighting, home appliances and switchgears.

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