HBL Power Systems Limited has posted a lower profit of ₹8.77 crore for the third quarter ended December 31, 2017 as against a profit of ₹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 ₹417.17 crore as against ₹385.30 crore for the corresponding quarter last year.

For the nine months ended December 2017, the company closed with a profit of ₹27.19 crore and income of ₹1,220 crore as against a profit of ₹25 crore and income of ₹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 ₹59.45, up 6.45 per cent BSE during the day.