Schneider Electric share price: Schneider Electric tanks 6% as co posts losses in Q4

New Delhi: Shares of Schneider Electric Infrastructure tanked over 6 per cent on Thursday after the company posted net loss in the quarter ended on March 31, 2021. However, the net loss of the electric equipment firm has reported narrowed Rs 11.25 crore in the March 2021 quarter, mainly on the back of higher revenues. The company had posted a net loss of Rs 25.74 crore in the corresponding period of the previous fiscal.

While shares of Schneider Electric tanked 6 per cent to Rs 121.50, the counter was trading at Rs 122.25 at 11.25 am. BSE Sensex was trading 20.79 points or 0.52 per cent higher at 52,576.87 at the same time. The counter settled at Rs 129.45 on Wednesday.

Total income of the company rose 11.54 per cent to Rs 258.22 crore in the March 2021 quarter from Rs 231.50 crore in the same period previous year.

Shares of Schneider Electric have gained up 50 per cent in 2021 so far. The counter was up by 20 per cent in the last one month. Apparently, investors booked profits after the recent rally, following a tepid performance in Q4.

The net loss in the 2020-21 fiscal also narrowed to Rs 1.01 crore from Rs 29.57 crore in 2019-20. Total income in the fiscal stood at Rs 1,315.65 crore, compared to Rs 1,396.45 crore in FY20.