India's Schneider Electric Infrastructure posts second-quarter profit

Schneider Electric Infrastructure

03/11/2022 14:17

BENGALURU, Nov 3 (Reuters) - Schneider Electric
Infrastructure  SEIN.NS  reported a profit in the second quarter
on Thursday, after winning a slew of orders following a pickup
in economic activity.
    The Noida-based company, which makes a range of electrical
products including power transformers and switchgears, is
benefiting from modernisation of India's power and grid sector,
as well as a push to electric vehicles.     
    Standalone profit for the three months ended Sept. 30 was
87.4 million Indian rupees ($1.05 million), compared with a loss
of 87.4 million rupees a year earlier, the company said in an
exchange filing. Schneider did not expand on details of the
orders it won in the quarter. 
    Revenue from operations rose 39.5% to 4.21 billion rupees,
from 3.02 billion rupees a year earlier.  
($1 = 82.9430 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((anisha.ajith@thomsonreuters.com;))