GE T&D India's net profit surged to Rs 49.4 crore in the December quarter driven by increased revenue and order bookings. The company also became debt-free.
New Delhi, Feb 5 (PTI) GE T&D India on Monday posted a steep rise in net profit to Rs 49.4 crore in the December quarter mainly on the back of higher revenues.
The company posted an 8 per cent rise in revenue to Rs 840 crore in the quarter, the company said in a release.
Profit After Tax was at Rs 49.40 crore, against Rs 4.7 crore in the Quarter Ended (QE) December 2022, the company said.
The order bookings were Rs 2,370 crore, up 204 per cent compared to Rs 780 crore in Quarter Ended (QE) December 2022.
Sandeep Zanzaria, Managing Director & CEO of GE T&D India said in the statement, "As the pace of global energy transition accelerates with India spearheading the shift, our Q3 order book reflected a surge in demand - both in terms of domestic and exports. This, combined with our unwavering focus on optimization and strong order execution paved the way for improvement in profitability and the company becoming debt-free."
GE T&D India is a leading player in the power transmission and distribution business, and has a presence of over 100 years in India.
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