Orient Electric net profit rises 3.9%

NEW DELHI: Orient Electric Ltd on Wednesday reported a 3.9 per cent increase in its net profit at Rs 19.69 crore in the Apirl-June quarter, helped by double-digit growth from durables business and improvement in gross margins.The CK Birla group firm had posted a net profit of Rs 18.95 crore in the corresponding quarter last fiscal, Orient Electric said in a regulatory filing. However, its revenue from operations was up 13.51 per cent to Rs 705.63 crore during the period under review as against Rs 621.63 crore in the corresponding period of the previous fiscal.