India pandemic Waves India

Orient Electric’s Q4 growth momentum strong, but near-term covid worries persist

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Orient Electric Ltd were marginally higher during trading hours on the National Stock Exchange on Friday, a day when the benchmark Nifty 50 index was slightly lower.The company’s fourth quarter results are encouraging.

For the March quarter (Q4FY21), revenues have increased as much as 42% year-on-year (y-o-y) to ₹802 crore. A favourable base did help to an extent.

Both businesses, electrical consumer durables (ECD) and lightning & switchgear performed well, posting a revenue growth of over 40% y-o-y.The ECD business contributed about 80% of revenues and the remaining came from lightning & switchgear.

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