Triveni Turbine Q3 net profit rises to Rs 52 crore

NewsDrum Desk
23 Jan 2023

New Delhi, Jan 23 (PTI) Triveni Turbine on Monday posted a more than 47 per cent rise in consolidated net profit to Rs 52.60 crore in the December quarter, helped by higher revenues.

The consolidated net profit of the company stood at Rs 35.67 crore in the quarter ended December 31, 2021, according to a BSE filing.

Total income rose to Rs 337.70 crore in the third quarter of the current fiscal from Rs 233.52 crore in the same period a year ago.

Dhruv M Sawhney, Chairman and Managing Director of Triveni Turbine said the company has continued its strong growth momentum with highest ever turnover and profitability during the quarter under review with both rising more than 40 per cent over the corresponding quarter of last year.

The identified growth avenues are mainly three product sub-segments -- leadership segment in less than 30 MW, newer focus segment of 30.1-100 MW and drive turbines. Besides, with a robust aftermarket strategy encompassing spares, service and multi-brand refurbishment, the company continues to cross new milestones both on operational and financial basis, he noted.

Order booking, which has averaged around Rs 300 crore for the last six quarters, reached a new high of Rs 420 crore in the latest December quarter.

In the product segment, enquiries increased 31 per cent year-on-year and the company is witnessing higher enquiries especially from international markets such as Southeast Asia, Europe, West Asia, North America, he added.

Renewable Independent Power Producers (IPP) segment led to the higher enquiry base followed by process industries.

The company had a closing order book of Rs 1,232 crore, up 33 per cent year-on-year as on December 31, 2022. PTI KKS RAM

Read The Next Article