AEL posts net profit of Rs 284 mn for Q1

Mumbai, July 30 (UNI) Energy saving lighting products manufacturer Asian Electronics Limited (AEL) has reported a net profit of Rs 284 million, a jump of over 155 per cent in its first quarter as ended on June 30.

Net sales for the said period was Rs 838 million compared to Rs 537 million for the previous year's quarter, a company release said here today.

The machinery segment grew with a turnover of Rs 475 million for the current quarter.

Profit from the lighting segment increased by 10 per cent to Rs 82 million against Rs 75 million in the previous quarter.

EPS for the year stood at Rs 19.68 for the quarter compared to Rs 6.99 in the same quarter of the previous year.

The Company is also expanding its Energy Services Company (ESCO) business from lighting to include other services in the energy sector for conversion of waste into energy.

Asian Electronics Limited is the country's leading Energy Services Company (ESCO) manufacturing energy saving lighting products. Its based in Mumbai, with worldwide operations and offices in Europe and the US, the release added.

UNI