Genus Power reports 163% rise in Q3FY21 profit at Rs 17.9 crore

Genus Power Infrastructures Ltd. today announced its financial results and reported a 163.2% quarter-on-quarter (QoQ) rise in net profit at Rs 17.9 crore for the quarter ended December 31, 2021 (Q3FY21). The company has reported a net profit of Rs 6.8 crore in the quarter ended September 30, 2021 (Q2FY21).

The company in a statement said, the profit after tax (PAT) for Q2FY21 also includes One-time provision of Rs. 12.6 crore made towards the settlement of past litigations under the 'Vivad Se Vishwas Scheme 2020'.

Revenue of the leading metering solutions provider & manufacturer for the Power Distribution Industry grew by 1.75 per cent to Rs 168 crore in the reported quarter against Rs 165.1 crore posted in previous the previous quarter.

Its EBITDA fell by 15.4 per cent to Rs 29.1 crore in Q3FY21 against Rs 34.4 crore reported in Q2FY21. The impact was on account of product mix, higher employee costs and overheads built in anticipation of higher-order book execution.

Shares of Genus Power closed 2.30 points or 6.34 per cent lower at Rs 34 apiece on the BSE on Friday.