Panasonic Energy India profit grows to Rs 4 cr in Q1

New Delhi: Panasonic Energy India Company Ltd (PECIN) on Monday reported a profit after tax of Rs 4.14 crore in June quarter, up from Rs 2.59 crore in the year-ago period.

The company' total income fell to Rs 64.18 crore in the first quarter of this fiscal from Rs 77.48 crore in the April-June period of preceding 2023-24 financial year, Panasonic Energy India said in an exchange filing.

During the reporting quarter, the company reduced expenses to Rs 58.55 crore from Rs 74.02 crore in the three-month period a year ago.

In a separate statement, Akinori Isomura, Chairman and Managing Director, PECIN, said, "Last two years have charted a turnaround story for company's operations and we have been reporting a consistent growth in profit. The slight dip in revenue this quarter is on account of a large B2B one time order that we won last year, so if we look at the overall sales growth in insolation of this order, we have recorded a 7 per cent growth." Part of Panasonic Holdings Corporation, Panasonic Energy India Co. Ltd is one of India's largest manufacturers and suppliers of dry cell batteries.