India's Orient Electric posts Q3 profit rise on strong demand

Orient Electric

29/01/2025 08:44

Jan 29 (Reuters) - India's Orient Electric  ONTE.NS , which makes a wide variety of home appliances, reported a
near 12% rise in third-quarter profit on Wednesday, helped by strong demand during a period that included the festive
season.
    Shares of the company rose 4% after the results.
    The company's profit rose to 271.7 million rupees ($3.14 million) in the quarter ended Dec. 31, from 243.3 million
rupees a year ago.
    Its revenue from operations grew nearly 9% to 8.17 billion rupees during the quarter.
    Total expenses increased 8% during the quarter.
    For further earnings highlights, click [Full story]
    
    KEY CONTEXT
    Analysts have said the demand for home appliances held up in the October to December quarter, which includes many key
festivals.
    However, consumer electrical goods makers have been grappling with fluctuations in commodity prices and heightened
competition, which have squeezed their margins.
    Polycab  POLC.NS  missed profit estimates for the quarter as their wires business was impacted by commodity price
fluctuations.
    
    
    PEER COMPARISON
    
                                   Valuation (next 12      Estimates (next 12          Analysts' sentiment            
                                         months)                months)                                           
                          RIC      PE    EV/EBI  Price/   Revenue      Profit     Mean      # of      Stock to      Div
                                          TDA    Sales   growth (%)  growth (%)  rating*  analysts     price       yield
                                                                                                      target**      (%)
 Orient Electric        ONTE.NS   35.56  18.29    1.41     13.91       49.19       Buy       14         0.81        0.66
 Havells India          HVEL.NS   53.07  36.12    4.07     14.91       23.07       Buy       24         0.82        0.66
 Crompton Greaves       CROP.NS   31.21  21.30    2.39     12.35       25.93       Buy       32         0.70        0.89
 Consumer Electricals                                                                                             
 Polycab India          POLC.NS   37.73  25.95    4.00     18.02       18.98       Buy       26         0.76        0.53
 * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above
the PT
    
    
OCTOBER-DECEMBER STOCK PERFORMANCE 
    
    
    
-- All data from LSEG 
-- $1 = 86.4740 Indian rupees


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Orient Electric    https://tmsnrt.rs/40TCs5q
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 (Reporting by Ashna Teresa Britto; Editing by Savio D'Souza and Mrigank Dhaniwala)
 ((AshnaTeresa.Britto@thomsonreuters.com;))