LG Electronics India posts 27% profit rise in Q2, shares jump 5%
LG Electronics India's second-quarter net profit rose 27% year-on-year to Rs 489 crore, while revenue grew 19.5% to Rs 7,380 crore, prompting a near-5% rise in its BSE-listed shares.
LG Electronics India reported a net profit of Rs 489 crore for the second quarter of FY27, a 27% increase from Rs 389 crore in the same period a year earlier. Revenue from operations climbed to Rs 7,380 crore, up 19.5% from Rs 6,174 crore recorded in the comparable quarter of the prior fiscal year. The company also posted a 27.9% year-on-year rise in EBITDA to Rs 701 crore, improving the EBITDA margin to 9.5% from 8.9%.
The home appliance and air solutions division drove most of the growth, generating Rs 4,772 crore, 21% higher than a year ago. The home entertainment segment posted revenue of Rs 2,608 crore, 17% above the previous year's quarter. Following the earnings release, LG India shares rose nearly 5% to a session high of Rs 1,775.80 on the BSE.
In a regulatory filing, the company announced plans to enter the vehicle-solutions market, targeting automotive electronics such as infotainment systems, digital cockpits, telematics and advanced driver-assistance systems. Production for these products will be based at LG's third plant in Sri City, Andhra Pradesh, with investments to be made in phases according to operational scale and market conditions.
"The investments shall be undertaken in a phased manner, based on the scale of operations, technology and equipment requirements, regulatory requirements and prevailing market conditions," the company said.