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Orient Electric has reported an over six-fold jump in its net profit to ₹32.42 crore in the second quarter ended September 30, helped by lower expenses.
The CK Birla group firm had posted a net profit of ₹4.92 crore in the corresponding period of the previous financial year, Orient Electric said in a regulatory filing.
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To set up greenfield plant in South IndiaIts revenue from operations was down 0.2 per cent to ₹433.77 crore during the period, against ₹434.65 crore in the corresponding period of the previous financial year.
Orient Electric’s total expenses stood at ₹391.21 crore in the second quarter of 2020-21, as against ₹427.75 crore, down 8.54 per cent.
Shares of Orient Electric Ltd were trading 5.54 per cent higher at ₹214.45 on the BSE.
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