Triveni Turbine net profit up 30% t0 Rs 36 crore in December quarter

Triveni Turbine posted a nearly 30 percent increase in its consolidated net profit to Rs 35.67 crore in the December quarter, mainly on the back of higher revenue.

The company had reported a consolidated net profit of Rs 27.54 crore in the quarter ended December 2020, said a BSE application.

The company’s total revenue for the quarter rose to Rs 233.52 crore, up from Rs 178.97 crore in the same period a year ago.

Dhruv M Sawhney, Chairman and Managing Director, Triveni Turbine Limited, said: “Although COVID-19 was re-launched this quarter with the new Omicron variant, Triveni Turbines continued to strengthen and improve its market position, particularly in the above 30 MW segment, where “the company is approaching the market independently after the adverse resolution with General Electric and Baker Hughes regarding Triveni Energy Solutions Ltd (TESL) (formerly GETL) announced in the previous quarter.”

As far as order booking is concerned, the company has achieved order booking of more than Rs 900 crore during the nine month period of FY22.

This order book provides visibility for the good growth in FY23, it said.

(Only the headline and image of this report may have been re-edited by Business Standard staff; the rest of the content will be automatically generated from a syndicated feed.)

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