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Orient Electric Limited Q3FY23 Earnings Story

Orient Electric has earned its mark as one of India’s leading consumer electrical brands. The company offers a diverse range of lighting, fans, home appliances, and switch-gears. The company is committed to producing cutting-edge lifestyle electrical items that satisfy the demands and expectations of contemporary consumers. It takes pride in its R&D capabilities, spirit of constant innovation, and these attributes.

Financial Results:

Despite an 8.9 percent rise in revenue from operations to INR 739 crore in the third quarter of FY23 over the third quarter of FY22, the company reported a 14.5 percent decline in net profits that stood at INR 32.5 crore. Cost of Goods Sold were up by 7.4 percent YoY during the quarter and stood at INR 527.5 crore. As against 9.8 percent in Q3 of December 2021, the company’s EBITDA margin was 7.4 in Q3 of December 2022. Profit before tax suffered a decline of 14.4 percent in Q3FY23 and stood at INR 43.6 crore from INR 50.9 crore in Q3FY22.

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