HBL Power Systems Limited has posted a lower profit of Rs.8.77 crore for the third quarter ended December 31, 2017 as against a profit of Rs.9.58 crore for the corresponding quarter last year.

The Hyderabad-based batteries and electronics company saw increase in its revenues for the third quarter at Rs. 417.17 crore as against Rs. 385.30 crore for the corresponding quarter last year.

For the nine months ended December 2017, the company closed with a profit of Rs. 27.19 crore and income of Rs. 1,220 crore as against a profit of Rs. 25 crore and income of Rs. 1,101 crore for the nine months of the previous fiscal.

The company said post the applicability of GST with effect from July 1, 2017, sales are required to be disclosed net of GST. Accordingly, the sales figures for the quarter and nine months ended December 2017 are not comparable with the previous periods presented in the results.

HBL Power shares were trading at Rs. 59.45, up 6.45 per cent BSE during the day.