Eon Electric fourth quarter total sales up 39% at Rs 52.70 crore, PBT at Rs 1.00 crore

Eon Electric Limited (EEL) has announced its earnings for the quarter ended March 31, 2016, as well as for FY16.

For the fourth quarter of 2015-16 fiscal, the company recorded sales of Rs 52.70 crore, up 39% from Rs 37.83 crore in the same period last fiscal. PAT for the period stood at Rs 1.06 crore. EBIDTA and EBIDTA margins for Q4 FY16 stood at Rs. 3.80 crore and 7.21% respectively.

For FY16, total sales of company grew by 35% to Rs 174.67 Crore. Net loss for the period stood at Rs 4.02 crore. EBIDTA and EBIDTA margins for FY16 stood at Rs.7.19 crore and 4.12% respectively.

Commenting on the financial performance of the company Mr. V.P Mahendru, Chairman and Managing Director, Eon Electric Limited, said,

“The Government’s emphasis on energy efficiency for reducing carbon emissions has provided the necessary impetus for the growth of LED lighting industry. The industry is growing at a fast pace and we are upbeat on future prospects. We are continuously striving to strengthen our product range and technologies to meet growing demand across various markets in the country. Our manufacturing facilities at Haridwar have adequate manufacturing capacity which is sufficient to meet demand”.