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Orient Electric rallies 9% on strong September quarter results

The company reported a nearly seven-fold jump in net profit at Rs 32.4 crore in Q2FY21.

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2 min read Last Updated : Oct 29 2020 | 10:27 AM IST

Shares of Orient Electric rallied 9 per cent to Rs 221 on the BSE in the early morning deals on Thursday after the company reported a nearly seven-fold jump in its net profit at Rs 32.4 crore for the September quarter (Q2FY21), on the back of strong operational performance. The CK Birla Group company had posted a profit of Rs 4.8 crore in Q2FY20. It had posted a net loss of Rs 27.3 crore in the previous quarter (Q1FY21). However, revenue remained flat at Rs 434 crore during the quarter.

Ebitda (earnings before interest, taxes, depreciation, and amortisation) more than doubled

Topics : Orient Electric Buzzing stocks Markets Q2 results

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