GE T&D India profit jumps multi-fold to Rs 37.12 cr in Q2 – today news


Illustration by Ajay Mohanty

GE T&D India on Wednesday posted a multi-fold rise in its net profit to Rs 37.17 crore in the July-September quarter compared to the year-ago period.

Its net profit stood at Rs 2.76 crore in the quarter ended on September 30, 2022, a BSE filing showed.

Total income of the company declined to Rs 706.90 crore in the quarter from Rs 728.84 crore in the same period a year ago.

Sandeep Zanzaria, Managing Director & CEO of GE T&D India said in a statement, “We witnessed a continued surge in the order book in Q2, driven by India’s energy transition needs and government’s focus on renewable energy schemes.

“We are also pleased to report a notable improvement in profit in the second quarter along with a significant reduction in net debt.”

The order bookings were Rs 1,080 crore, up 123 per cent compared to Rs 490 crore in the July-September quarter of 2022.

With over 100 years of presence in India, GE T&D India is a leading player in the Power Transmission & Distribution business – A product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Nov 08 2023 | 7:13 PM IST

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