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Results for Olectra Q3 FY23: Net Profit up 3.92% YoY at Rs. 12.98 crore; Revenue Growth at 20%

Olectra Q3 FY23 Results: Net Profit up 3.92% YoY at Rs 12.98 crore; revenue growth at 20% Olectra Limited, in its press statement, has stated that it has posted a net profit of Rs 12.98 crore for the quarter ended March 31, 2019 as compared to Rs 11.18 crore during the corresponding period last fiscal

The company reported a net profit of Rs 12.98 crore for the quarter ended March 31, 2019 as compared to Rs 11.10 crore for the same period last year. The revenue rose by 20% YoY at Rs 240.31 crore in Q3 FY 23 (FY22: Rs 204.93 crore), after a decline of 29% in Q2 FY23 and an impressive growth of 58% in Q1 FY23 (FY22: Rs 167.29 crore). The Basic EPS stood at -0.24% versus -1.43% in Q2 FY23 and -0.90% in Q1 FY 23, registering a YoY growth of 15%.

Profit up 3.92% YoY at Rs 12.98 crore; revenue growth at 20%, led by strong and stable volumes and recurring service volumes as well as enhanced productivity, which is reflected in a lower cost per gigabyte (CGB) delivered to customers despite higher raw material costs.

Olectra, which has a turnover of Rs 3 crore and employs 50 people (including 24 in central Kerala), is increasing its production capacity by 2% per annum and aims to scale up further by 2020-2021.