Revenue for the Electrification business segment rose 22.0% to $104.8 million in 3QFY2024 as compared to the corresponding quarter in 2023. This was mainly attributed to the faster than anticipated project execution milestones for two Electrification projects in the USA, which resulted in higher project revenues recognised for 3QFY2024. The Electrification business segment secured $78.3 million of new orders, which contributed about 41.9% of total order intake during the quarter.
CSE Global, the global systems integrator providing electrification, communications and automation solutions, recorded a 15.4% y-o-y increase in its 3QFY2024 ended September to $213.9 million, led by broad-based growth across all business segments and geographical regions.
The Electrification, Communications and Automation business segments contributed 49.0%, 28.9% and 22.1% of 3QFY2024 revenue respectively.
