MUMBAI:
Hind Rectifiers Limited, a company engaged in designing and manufacturing industrial power electronics and power conversion equipment, announced an 19.38% increase in net sales at Rs 29.14 crore for the quarter ending December 2017 as against Rs 24.41 crore during the same period in the previous fiscal.
Net profit for the quarter was Rs 0.47 Crore compared to Net Loss of Rs. 0.96 crore in Q3FY17. Operating profit (EBIDTA) was Rs 2.62 Crore as against Rs 0.66 Crore during the same period last year. Earnings per share (not annualized) for the quarter stood at Rs 0.29. The Net Sales for the first nine months of FY 2018 stood at Rs 71.26 Crore as against Rs 79.37 Crore reported in the same period of FY17, a decrease of 10.22%
The Net Loss for the nine months ending December 2017 was Rs 2.16 Crore as against Loss of Rs 2.96 crore during the same period in the previous fiscal. Operating profit (EBITDA) in the first nine months of FY 2017 was Rs 3.13 crore, 81.98% higher compared to Rs 1.72 crore in the same period a year ago. Earnings per share (not annualized) for the first nine months of FY18 stood at Rs -1.30
Commenting on the Company’s performance, Suramya Nevatia, Chief Executive Officer, Hind Rectifiers said, “The quarter has been satisfactory for us. We are confident of building an even stronger order book in the upcoming quarters and achieve steady growth on account of healthy order execution.”
