|Q3FY19 vs. Q3FY18 Performance:
Mumbai, 12th February, 2019: Hind Rectifiers Limited, a company engaged in designing and manufacturing industrial power electronics and power conversion equipment, announced its Q3FY19 results.
Profit After Tax for the quarter stood at Rs 3.15 Crore as against Profit of Rs 0.66 crore in Q3FY18.
Earnings per share (not annualized) for the quarter stood at Rs 1.91
Operating profit (EBITDA) for Q3FY19 was Rs 6.98 crore, as against EBITDA of Rs 2.80 crore in the same period a year ago.
Commenting on the Company’s performance, Mr. Suramya Nevatia, Chief Executive Officer, Hind Rectifiers said, “We are delighted to deliver yet another profitable quarter with strong numbers. Our focus on R&D has increased substantially, thus enabling us to enhance our product offering with cost-effective and innovative products. We are in line with our growth estimates and are looking to expand through global strategic partnerships.”
About Hind Rectifiers:
Hind Rectifiers Limited, known as ‘Hirect’, was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hirect, listed on BSE and NSE, is engaged in developing, designing and manufacturing power electronics and power conversion devices for a wide range of end-user industries such as Railways, Power, Telecommunication, IT, Steel, Non Ferrous metals, among others. The Company’s main manufacturing facility is at Bhandup, Mumbai while it also has manufacturing facilities at Nashik, Maharashtra and Dehradun, Uttarakhand. Its product portfolio includes Rectifiers, Transformers, Inverters, Converters, Semi-Conductors, Controllers and power supply system for Electro Static Precipitators. The growth story of Hirect has been entwined closely with that of the Indian Railways, the latter being among the largest and longest client relationships of Direct.