Triveni Turbines Q3 net back in black at Rs 21 cr

Industrial steam turbine maker Triveni Turbines has reported a net profit of Rs 21 crore for the quarter ended December 31, 2011.

The company had suffered a loss of Rs 33 crore in the same period last fiscal.

The net sales of the company increased 2.9% to Rs 146 crore compared to Rs 142 crore in the same period last financial year, an official statement said.

Commenting on the company's financial performance, Dhruv Sawhney, Chairman and Managing Director, Triveni Turbine, said, "We are pleased to inform that even under the current economic situation, the turbine business has achieved a modest increase in turnover, the order in-take of over Rs 200 crore has been in line with our estimates."

"While the order inflow from metal segment has been significant, we could see order flow from other segments as well. The business achieved good order in-inflow from the export market with orders coming from Europe, Africa and South East Asia," he said.

"We have seen some delays in capex decisions coupled with some rescheduling of deliveries of the turbines, but we do have a strong enquiry book, which we believe will help us in getting good orders in the coming quarters as well," he said adding that the company expects to secure more orders in the domestic and overseas market.

Triveni Turbines is engaged in manufacturing steam turbines and providing steam turbines solutions. Its manufacturing facility is located in Bangalore with capacity to produce 80-100 steam turbines a year.

Shares of Triveni Turbines were trading up 4.08% at Rs 42.05 on the BSE in afternoon trade.