Atlanta Electricals fell to a day’s low of Rs 1,651 on the NSE on Tuesday, even as it posted a sharp rise in Q1 profit and revenue.

Net profit for the quarter rose 51.1% year on year to Rs 46.84 crore, up from Rs 31.14 crore a year earlier. Revenue climbed 48% to Rs 466.33 crore, against Rs 315.11 crore in the same quarter last year.

Margins improved too. Operating profit rose 58.2% to Rs 77.4 crore, and the operating margin widened to 16.6% from 15.5% a year ago.

Profit before tax rose to Rs 63.58 crore from Rs 41.97 crore, while earnings per share climbed to Rs 6.09 from Rs 4.35.

The company’s order book stood at Rs 3,116.63 crore as of 30 June, up 25% from the previous quarter, helped by fresh orders worth Rs 972.42 crore during the period.

Higher-capacity transformers rated 220 kV and above now make up more than 55% of that order book, with 400 kV transformers and reactors alone contributing close to Rs 275 crore.

Chairman and Managing Director Niral Patel said the order book growth reaffirms ‘the robust demand environment’ across transmission, renewable energy and industrial segments.

The company has also received approval from Power Grid Corporation to build transformers up to 400 kV at its Vadod plant, and is working on 400 kV and 765 kV models to tap opportunities in areas like data centres and battery storage.

Separately, Atlanta Electricals said it had used Rs 398.09 crore of the Rs 400 crore raised through its IPO as of 30 June, with the balance going towards general corporate purposes.

As of 14:27 pm on 21 July, the stock was trading at Rs 1,651 on the NSE, down 4.99% from the previous close of Rs 1,737.80.

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