Panasonic Energy India Q1 Results: Net Profit Grows to Rs 4.14 cr
In the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago.
Panasonic Energy India Company Ltd (PECIN) on Monday reported a profit after tax of Rs 4.14 crore in the second quarter, up from Rs 2.59 crore in the same period a year earlier.
The company’s total revenue fell to Rs 64.18 crore in the first quarter of this fiscal year, compared to Rs 77.48 crore in the April-June period of the previous fiscal year 2023-24, Panasonic Energy India said in a stock exchange filing.
In the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago.
In a separate statement, Akinori Isomura, chairman and CEO of PECIN, said: “The past two years have shown a turnaround in business and we have reported consistent growth in profit. The slight decline in revenue this quarter is due to a large one-off B2B order we won last year, so looking at the overall revenue growth in isolation from this order, we recorded a growth of 7 percent.”
Panasonic Energy India Co. Ltd, part of Panasonic Holdings Corporation, is one of the largest manufacturers and suppliers of dry cell batteries in India.
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First publication: Aug 12, 2024 | 7:16 PM IST