Triveni Turbine Q2 Profit Soars 38% to Rs 64 Crore
Nov 01, 2023 19:19
Triveni Turbine reported a strong Q2 FY24, with net profit rising 38% to Rs 64 crore on higher revenues and robust order booking. Exports contributed significantly to growth.
New Delhi, Nov 1 (PTI) Triveni Turbine on Wednesday posted over 38 per cent rise in its consolidated net profit at Rs 64.03 crore in the September 2023 quarter compared to a year ago, mainly due to higher revenues.
Its consolidated net profit was Rs 46.32 crore in the quarter ended on September 30 last year, a BSE filing showed.
Total income in the quarter rose to Rs 402.32 crore from Rs 303.74 crore in the same period a year ago.
Dhruv M Sawhney, Chairman and Managing Director, Triveni Turbine, said in a statement, "In the quarter and half-year ending September 30, Triveni Turbines has reported yet another strong set of results across all key metrics of revenues, profitability and order booking."
Revenues in the first half of FY24 (April-September 2023) grew 38 per cent, with improved margins, leading to a higher Profit Before Tax (PBT) growth of 44 per cent and Profit After Tax growth of 48 per cent over the previous year, he added.
The contribution of exports to sales has increased from 41 per cent in the first half of FY23 to 47 per cent in the latest half-year period, he informed.
The company achieved robust order booking of Rs 459 crore in Q2 FY24 (July-September 2023) as against Rs 361 crore in the year-ago quarter, an increase of 27 per cent.
The domestic order booking during the quarter was Rs 257 crore, an increase of 41 per cent y-o-y (year on year), driven by robust demand across sectors.
The export order booking during the quarter was Rs 202 crore, growing by 13 per cent compared to last year.
On the product side, order booking for the segment increased by 12 per cent y-o-y to Rs 306 crore due to high volume of orders in the international markets.
The product segment turnover was Rs 2.68 billion during the quarter, an increase of 20 per cent over previous year, it stated.
Total consolidated outstanding order book stood at a record Rs 1,476 crore as on September 30, 2023, which was higher by 30 per cent compared to the previous year.
Triveni Turbine is a focused, growing and market-leading corporation having core competency in the area of industrial heat and power solutions and decentralized steam-based renewable turbines up to 100 MW size.
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