Eon Electric Q4 sales up 39% at Rs 52.70 crores

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NCR-based Eon Electric Limited has announced that their total sales in the fourth quarter of 2015-16 has jumped by 39 per cent to reach revenues of Rs 52.70 crores. The company specialises in manufacturing and marketing a wide range of energy efficient LED based lighting products, wires and cables, electrical consumer durables, lithium ion batteries and mobile phone accessories.

The company’s profit after tax for the quarter stood at Rs 1.06 crores as against net loss of Rs 11.40 crores in the fourth quarter of last fiscal.

Commenting on the financial performance of the company 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.”

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Here it can be easily said that the company did exceedingly well in the LED segment to register 39 percent jump in sales and a lot of credit should go to the government for encouraging people to use LED bulbs and other related products.

By Atanu Kumar Das

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