Orient Electric Q1 net profit zooms 278.24% at Rs 18.95 cr
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The company reported standalone net profit of Rs 18.95 crore for the quarter ended June 30, 2022 as compared to Rs 5.01 crore in the same period last year, registering a year-on-year growth of 278.24 per cent. Net revenue of the company rose substantially by 47.19 per cent at Rs 621.63 crore in April-June quarter of this fiscal as against Rs 422.32 crore in the corresponding period last year.
During April-June quarter, operating expenses increased by 45.87 per cent to Rs 583.48 crore from Rs 399.99 crore in year ago period. Other Income grew by 476.67 per cent at Rs 5.19 crore versus (Jun'21 Rs 0.90 crore). Operating Profit surged by 70.85 per cent to Rs 38.15 crore as against Rs 22.33 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 16.07 per cent in June quarter. Interest grew by 7.28 per cent y-o-y to Rs 5.16 crore, while Taxation increased by 257.78 per cent at Rs 6.44 crore (Jun'21 Rs 1.80 crore).
