GE Power India profit rises 5% to Rs 39 crore in September quarter

GE Power India on Tuesday said its consolidated net profit rose over 5 per cent to Rs 39.33 crore in September quarter 2021-22.

It clocked a profit of Rs 37.37 crore in the same quarter a year ago, a BSE filing said.

Total income stood at Rs 791.39 crore as against Rs 917.80 crore in the year-ago period.

Its order backlog as on September 30, 2021 was Rs 4,473.3 crore.

"The result shows improvements in revenues and profits as compared to the last one while maintaining our focus on emissions and services business, the absolute priority for us as an organization. We are also in constant path of improving operations through lean," Managing Director Prashant Jain said.

"We are seeing a slowdown on FGD (Flue-gas desulfurization) orders due to ambiguity on the implementation timelines of power plants and we are expecting a recovery on the orders from next year. On the operations side, the team continues to work towards completion of project milestones despite the challenges faced in workforce ramp-up due to COVID-19 and unprecedented rainfall in certain areas," he added.

GE Power India is one of the leading players in the Indian power generation equipment market. Hydro and gas businesses are also housed in the company in addition to steam power.