Electrical Equipment/Products company Genus Power Infrastructures announced Q1FY24 results: Revenue stood at Rs 261.1 crore, up by 39.6%, as against Q1FY23 revenue of Rs 187.0 crore. While the supply chain disruptions for semiconductors and other vital electronic components have shown signs of improvement compared to the previous year, the lingering effects are still impacting our top-line performance due to suboptimal capacity utilization EBITDA stood at Rs 28.6 crore, up 99.7%, as against Rs 14.3 crore in Q1FY23. The company's operating margins recorded a decline due to the predominance of legacy orders in Q1FY24, which yielded lower margins. We anticipate that the existing backlog of legacy orders will likely be fulfilled by Q2FY24 Profit After Tax stands at Rs 19.3 crore for Q1FY24 as against Rs 0.6 crore in Q1FY23. Commenting on the performance Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures said, “We are delighted to have successfully secured a significant order inflow till date in FY24. This signifies a noteworthy achievement for our company, and we firmly believe that it will act as a powerful catalyst for our unparalleled business growth within the lucrative Indian Smart Meter market. We are also very pleased to have secured a strategic partnership with GIC, a renowned global long-term investor. This collaboration signifies a significant milestone for Genus, as it solidifies our position as the exclusive partner of choice for GIC in the industry. GIC's investment in the smart metering space serves as a testament to the promising outlook of this industry. It also highlights our exceptional manufacturing capabilities and proven track record in effectively executing projects." Result PDF