Corporate NewsNews

‘HPL Electric and Power Ltd reports revenue of ₹ 129 Crores in Q1 FY’22, registers 34% year on year growth’

The Metering business revenue registered a strong growth of 40% YoY to ₹ 49.4 crores. However, the performance of the Metering business was impacted as the inspection and dispatches was halted due to COVID-19 related lockdown and restrictions. The inspection and enquiries has started gaining traction in Q2 FY22.

In the ‘Consumer’ segment (including non-utility meters) performance too was muted by the lockdown. However, the ‘Consumer’ segment revenue grew by 31% YoY to ₹ 80 crores in Q1 FY22. The switchgear segment revenue at grew ₹ 23.7 crores in Q1 FY22, a growth of 4% YoY.

Similarly, the lighting segment & the wires and cables segment revenue grew by 33% YoY and 35% YoY, respectively to ₹ 37.6 crores and ₹ 18.2 crores in Q1 FY22. The revenue share of the Consumer segment stood stable at 67% in Q1 FY22 & Q1 FY21, respectively.

The company EBITDA surged by 48% YoY to ₹ 9.8 crores with the EBITDA margin at 7.6%. The EBITDA Margin expanded by 71 bps YoY to 7.6% in Q1 FY22 due to a sharp decline in the raw material prices.

The company bottom-line was primarily impacted by the under absorption of fixed costs (including the interest cost & depreciation). However, the actual cash loss during the quarter was restricted at ₹ 6 crores.

Mr. Gautam Seth, Joint Managing Director, said, “The Company’s revenue for the first quarter registered 34% YoY growth to ₹ 129 Crores as compared to the corresponding quarter last year, though on a lower base. The metering segment’s traction was hindered due to lower inspections and dispatches led by COVID-19 restrictions and lockdown, severely impacting the momentum gained in Q4 FY21. However, the Metering business revenue grew by 40% YoY to ₹ 49 crores in Q1 FY22.

Related posts

Microsoft Hybrid Came Up With New Paths Cloud With Dell EMC

adminsmec

Bosch Opens Center for Data Science and Artificial Intelligence

adminsmec

RankSecure Selects Orca Security to Bring Comprehensive and Seamless Full Stack Visibility into Cloud Inventory

adminsmec
x