Orient Electric Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 16, 2023
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Orient Electric Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 6,579.1 million compared to INR 7,533.2 million a year ago. Revenue was INR 6,642.5 million compared to INR 7,560 million a year ago. Net income was INR 246.2 million compared to INR 487.8 million a year ago. Basic earnings per share from continuing operations was INR 1.16 compared to INR 2.3 a year ago. Diluted earnings per share from continuing operations was INR 1.16 compared to INR 2.29 a year ago.
For the full year, sales was INR 25,291.7 million compared to INR 24,483.7 million a year ago. Revenue was INR 25,557.8 million compared to INR 24,541.8 million a year ago. Net income was INR 758.5 million compared to INR 1,266.4 million a year ago. Basic earnings per share from continuing operations was INR 3.57 compared to INR 5.97 a year ago. Diluted earnings per share from continuing operations was INR 3.56 compared to INR 5.95 a year ago.
Orient Electric Limited is an India-based lifestyle electrical solutions company. The Company is primarily engaged in manufacture/purchase and sale of electrical consumer durables, lighting and switchgear products. The Company operates through two segments: Electrical Consumer Durables and Lighting and Switchgear. Electrical Consumer Durables segment consists of the manufacture / purchase and sale of electric fans ceiling, portable and airflow, along with components and accessories thereof, and appliances- coolers, geysers and home appliances. Lighting and Switchgear segment consists of manufacture / purchase and sale of lights and luminaires, including light-emitting diode (LED), streetlights and switchgears, including switches and miniature circuit breakers (MCB). Its home appliances products include air-cooler, water heater, room heater, dry iron, steam iron, juicer mixer grinder, mixer grinder and more. The Company has manufacturing facilities at Faridabad, Noida and Kolkata.
ORIENT ELECTRIC LIMITED 
