New Delhi, Feb 3 () Triveni Turbine on Monday posted over a 18 per cent jump in its consolidated net profit at Rs 27.07 crore for the December quarter.
The company's consolidated net profit stood at Rs 22.83 crore in the quarter ended on December 31, 2018, a BSE filing said.
It posted total income of Rs 205.87 crore for the quarter under consideration compared to Rs 213.18 crore for the same period a year ago.
The earning per share (not annualised) for third quarter is Rs 0.84 per share.
During the April-December period this fiscal, its consolidated net profit rose to Rs 108 crore from Rs 71.96 crore last fiscal.
The company had earned a profit of Rs 100.23 crore last fiscal.
It said that the interim dividend at the rate of 50 per cent (i.e, Rs 0.50 per equity share of Rs 1 each) for 2019-20 aggregating to Rs 18.15 crore (including dividend tax) has been paid during the quarter ended December 31, 2019.
Commenting on the results Dhruv M Sawhney, Chairman and Managing Director at Triveni Turbine said, "The performance of the company has been in line with our expectations and the company achieved strong net profit for the quarter and nine months period under review. The phenomenal increase in nine-month PAT (profit after tax) was on account of improved turnover, higher margins together with reduced tax provisioning resulting from the recent changes in Corporate Taxes."
Total order booking during the quarter stood at Rs 210 crore, a growth of 11 per cent year on year, which enabled the company to bridge the gap in order booking for the nine months period.
The order booking for the nine-month period stood at Rs 636 crore, which is marginally lower than the corresponding period of last year and is expected to improve by the end of the year.
For its JV GETL (GE Triveni Ltd), as communicated in June, Triveni had filed a petition in the National Company Law Tribunal and the matter is sub-judice. This is not affecting our current business and JV received orders of Rs 82.9 crore and the performance of the JV in the quarter under review has also been good, it added. KKS SHW SHW
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