HPL Electric & Power Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 08, 2023 at 04:50 am EST
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HPL Electric & Power Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 3,504.51 million compared to INR 3,022.77 million a year ago. Revenue was INR 3,514.33 million compared to INR 3,029.88 million a year ago. Net income was INR 109.95 million compared to INR 62.66 million a year ago. Basic earnings per share from continuing operations was INR 1.71 compared to INR 0.97 a year ago. Diluted earnings per share from continuing operations was INR 1.71 compared to INR 0.97 a year ago.
For the six months, sales was INR 6,711.96 million compared to INR 5,978.71 million a year ago. Revenue was INR 6,731.28 million compared to INR 5,995.74 million a year ago. Net income was INR 179.21 million compared to INR 125.65 million a year ago. Basic earnings per share from continuing operations was INR 2.79 compared to INR 1.95 a year ago. Diluted earnings per share from continuing operations was INR 2.79 compared to INR 1.95 a year ago.
HPL Electric & Power Limited is an India-based company, which is a multiproduct electric equipment manufacturer. The Companyâs product portfolio covers a wide range of low-voltage electric products including metering solutions, switchgears, lighting products, wires and cables, solar solutions, and modular switches. The Company operates through two segments: Metering and Systems, and the Consumer & Industrial Segment. The Company has its presence across five key verticals: Metering Solutions, Switchgears, light emitting diodes (LED) Lighting, Wires and Cables, Solar Solutions and Modular Switches. Its Metering vertical offers smart meter, net meter, prepaid meter, Tri vector meter and others. Its Switchgear vertical includes Industrial Applications, which include air circuit breaker (ACB), molded case circuit breaker (MCCB), and phase selector. The Companyâs manufacturing units are located at Gurugram, Kundli, Gharaunda and Sonepat in Haryana and Jabli in Himachal Pradesh.