Schneider Electric jumps up 17%

Schneider Electric Infrastructure rose 17% in the opening bell session to Rs.104; it has come off that intra day high but nevertheless remains firmly ensconced in the green at Rs.102 levels. Volumes have shot up over 8 times.

The company which manufactures and designs products and systems for electricity distribution, posted a good set of numbers for Q1FY19.

It reported a good turnaround – from a net loss of Rs.23.50 crore in previous Q1, in current Q1, it posted a net profit of Rs.8 crore. This was on a 19% (YoY) jump in revenue at Rs.289 crore.

Keeping a tight leash on costs, operating profit rose to Rs.22 crore from a loss in previous quarter and margins improved to a good 6.44