BENGALURU (Reuters) – Schneider Electric Infrastructure reported a profit in the second quarter on Thursday, after winning a slew of orders following a pickup in economic activity.
The Noida-based company, which makes a range of electrical products including power transformers and switchgears, is benefiting from modernisation of India’s power and grid sector, as well as a push to electric vehicles.
Standalone profit for the three months ended Sept. 30 was 87.4 million Indian rupees ($1.05 million), compared with a loss of 87.4 million rupees a year earlier, the company said in an exchange filing. Schneider did not expand on details of the orders it won in the quarter.
Revenue from operations rose 39.5% to 4.21 billion rupees, from 3.02 billion rupees a year earlier.
($1 = 82.9430 Indian rupees)
(Reporting by Anisha Ajith in Bengaluru; Editing by Krishna Chandra Eluri)
