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Panasonic Energy India Q1 results: Net profit grows to Rs 4.14 cr

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During the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago.


Panasonic Energy India Company Ltd (PECIN) on Monday reported a profit after tax of Rs 4.14 crore in June quarter, up from Rs 2.59 crore in the year-ago period.


The company’ total income fell to Rs 64.18 crore in the first quarter of this fiscal from Rs 77.48 crore in the April-June period of preceding 2023-24 financial year, Panasonic Energy India said in an exchange filing.


During the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago.

In a separate statement, Akinori Isomura, Chairman and Managing Director, PECIN, said, “Last two years have charted a turnaround story for company’s operations and we have been reporting a consistent growth in profit. The slight dip in revenue this quarter is on account of a large B2B one time order that we won last year, so if we look at the overall sales growth in insolation of this order, we have recorded a 7 per cent growth.”

Part of Panasonic Holdings Corporation, Panasonic Energy India Co. Ltd is one of India’s largest manufacturers and suppliers of dry cell batteries.

(Only the headline and picture of this report may have been reworked by the Times Todaystaff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Aug 12 2024 | 7:16 PM IST

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