Cable Community NewsElectrical ProductsFMEGLatest NewsSpotlight

Orient Electric’s Q2 FY-24 Financials: Revenue Up 11% YoY

orient electric logo

Orient Electric Ltd. [NSE: ORIENTELEC, BOM: 541301], an Indian Fast-Moving Electric Goods (FMEG) manufacturer, has announced its financial results for Q2 of FY-24.

Orient Electric’s Q2 FY-24 Financial Numbers

YoY Comparison of Orient’s Financial Results: Q2 FY-24 vs. Q2 FY-23

Comparison of Orient Electric’s Financials: Q2 FY-23 vs. Q2 FY-24 vs. Q1 FY-24

Orient Electric reported a revenue of Rs. 566.90 crore from operations during Q2 of FY-24 against Rs. 510.59 crore clocked during Q2 of FY-23. This represents a YoY growth of 11.03% in revenue of the company.

The company earned a Profit After Tax (PAT) of Rs. 18.45 crore in second quarter of FY-24 in contrast to Orient Electric’s reported loss of Rs. 0.28 crore during Q2 of FY-23.

Further, Orient Electric recorded Earnings Per Share (EPS) of Rs. 0.86 in Q2 of FY-24, however, the company reported a loss per share of Rs. 0.01 during Q2 of FY-23.

QoQ Comparison of Orient Electric’s Financials: Q2 FY-24 vs. Q1 FY-24

On a Quarter-over-Quarter basis, Orient Electric’s revenue dropped by 19.66% from Rs. 705.63 crore clocked during Q1 of FY-24.

Following suit, the company’s PAT decreased by 6.29% from Rs. 19.69 crore earned during Q1 of FY-24.

Orient Electric’s Segment-Wise Financial Performance

Comparison of Orient Electric’s Segment-wise Revenue: Q2 FY23 vs. Q2 FY24

Electrical Consumer Durables: Revenue from Orient Electric’s Electrical Consumer Durables segment business showed a 17.23% YoY increase to Rs. 363.44 crore recorded during second quarter of FY-24, from Rs. 310.03 crore reported for Q2 of FY-23.

Lighting & Switchgear: Lighting & Switchgear segment of the company brought in a revenue of Rs. 203.46 crore in Q2 of FY-24. This reflects a slight YoY increase of 1.45% from Rs. 200.56 crore logged during second quarter of FY-23.

About Orient Electric Limited: Orient Electric Ltd. is a part of the C.K. Birla Group, and is a manufacturer of FMEG products, lighting products, and switchgear. The company has a presence in 35 countries. In India, the company is a major manufacturer and exporter of electric fans with about 60% share in the country’s fan exports.