Schneider Electric Infrastructure shares hit a 52-week high at Rs 310 on August 10, after the company reported strong earnings in its recent quarterly results. The company reported a 31.7 percent year-on-year (YoY) increase in net profit at Rs 34.92 crore for the recently ended April-June quarter.
At 2.30 pm, Schneider Electric Infrastructure stock was quoting at Rs 296.60, up 3.20 percent or Rs 9.20 from previous close.
The stock, which has risen 81 percent year-to-date, had been consolidating since July 5 before today’s rise. Nearly 29 lakh shares exchanged hands at both exchanges, against a monthly average of 9 lakh shares.
In its Q1FY24 results announced on August 9, the company reported a 33.3 percent YoY rise in its revenue from operations at Rs 495.25 crore. Earnings before interest, taxes, depreciation and ammortisation (EBITDA) for the quarter were up 71 percent at Rs 49.46 crore. EBITDA margin for the quarter under review expanded by 220 basis points to 9.99 percent.
Schneider Electric Infrastructure is engaged in designing, manufacturing and servicing of high-end electrical distribution products. Its product range includes transformers, power transformers, switchgears, medium voltage switchgear, electricity distribution management systems and a software suite for self-healing smart grid among others.
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