Schneider Electric Infrastructure Reports 32% Increase in Q1 Net Profit
Schneider Electric Infrastructure Ltd. (SEIL), a subsidiary of Schneider Electric, reported strong financial results for the quarter ended June 30, 2023. The company’s net profit increased by 32% to ₹35 crore, while revenue rose by 16% to ₹536.9 crore.
The increase in profit was driven by higher revenues from SEIL’s core businesses, including electrical and automation solutions, and building systems. The company also benefited from a favorable foreign exchange rate.
SEIL’s electrical and automation solutions business grew by 20% in the quarter, driven by strong demand for products such as switchgear, transformers, and motors. The company’s building systems business grew by 12%, driven by demand for products such as lighting, HVAC systems, and fire protection systems.
SEIL’s international business also performed well in the quarter, with revenue increasing by 22%. The company’s international business is now contributing more than 50% of its total revenue.
Commenting on the results, SEIL CEO, Mr. Ritesh Mishra, said, “We are pleased with our performance in the first quarter of the financial year. We have seen strong growth in our core businesses, and we are confident of maintaining this momentum in the coming quarters.”
Mr. Mishra further added, “We are also expanding our product portfolio and geographical reach to further grow our business. We believe that these initiatives will help us to capitalize on the growing demand for our products and services in India and the global markets.”
SEIL is a leading provider of electrical and automation solutions, and building systems in India. The company has a strong presence in the Indian market, and it is also expanding its operations in the global markets.
The company is well-positioned to capitalize on the growing demand for its products and services in the coming years.
In addition to the factors mentioned above, there are a few other reasons for SEIL’s strong performance in the first quarter of the financial year.
- The company’s focus on innovation has helped it to develop new products and solutions that meet the needs of its customers.
- SEIL has a strong sales and distribution network that allows it to reach customers across India and the globe.
- The company has a strong financial position, which allows it to invest in growth initiatives.
SEIL is well-positioned for continued growth in the coming years. The company is expanding its product portfolio, geographical reach, and customer base. It is also investing in innovation and new technologies. These initiatives will help SEIL to capitalize on the growing demand for its products and services in India and the global markets.
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