ALSO READGE T&D India to announce Quarterly Result GE T&D India gets energised after stellar Q3 outcome L&T Tech shares jump 20 pc post Q3 results BLS Infotech reports standalone net loss of Rs 0.08 crore in the December 2017 quarter Sunil Hitech Engineers standalone net profit declines 1.80% in the December 2017 quarter
GE T&D India posted a 62 per cent jump in its net profit at Rs 71.8 crore in the quarter ended December 2017, on the back of higher sales revenue. The company's net profit stood at Rs 44.3 crore in the quarter ended December 2016, GE T&D India Ltd said in a statement. According to the statement, its sales revenue increased by 18 per cent to Rs 1,438.6 crore in the quarter from Rs 1,217.6 crore a year ago. The company has posted a net profit of Rs 181 crore in April-December period of this fiscal whereas it had reported a loss of Rs 132.6 crore in the same period a year ago. The company's sales revenue stood at Rs 3,571.9 crore in the nine-month period of this fiscal compared to Rs 3,002 crore a year ago. Its new order bookings were Rs 783.2 crore in the third quarter compared to Rs 1,118.2 crore a year ago. In April-June period, its order bookings stood at Rs 3,094.6 crore compared to Rs 3,160.8 crore, a year ago. Sunil Wadhwa, Managing Director of GE T&D India, in the statement said, "The business has continued to grow steadily in third quarter of 2017-18.
Even amidst tough market conditions, the company has performed well both in terms of order booking and profit. Overall, we are well positioned with an order backlog of over Rs 7,200 crore.