Q1 Results: Orient Electric’s CEO Says Seeing Early Signs Of Sales Pressure Amid Consumption Slowdown

Orient Electric Ltd. is seeing early signs of consumption slowdown, according to its Managing Director and Chief Executive Officer Rakesh Khanna.

While the industry is facing headwinds, Khanna told BloombergQuint, it is premature to say if his company will be impacted negatively in the coming quarters. “We will face it [slowdown pressures] like everybody else in the industry and we are not going to be any different.”

The electric equipment maker reported a nearly 58 percent jump in first-quarter profit while its margin expanded 160 basis points to 7.70 percent.

Key Earnings Highlights (YoY)

• Revenue jumped 31.20 percent to Rs 568.30 crore.
• Net profit surged 57.50 percent to Rs 18.90 crore.
• Ebitda was up 65.40 percent to Rs 44 crore.
• Margin stood at 7.70 percent versus 6.10 percent.
• Electric consumer durable segment revenue grew 32 percent to Rs 429.10 crore.
• Lighting and switchgear segment revenue was up 29 percent to Rs 139.20 crore.

Watch the full interaction here: