G E Power India Q4 PAT rises 8% to Rs 16 cr

On a consolidated basis, G E Power India's net profit rose 7.7% to Rs 16.02 crore on 27% rise in net sales to Rs 930.50 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax fell 3% to Rs 24.57 crore in Q4 FY21 as against Rs 25.33 crore in Q4 FY20. The Q4 earnings were announced after trading hours yesterday, 22 June 2021.

Prashant Jain, the managing director of GE Power India, said: "In FY2020-21 we continue to deliver on our services new orders growth strategy and have seen Y-o-Y growth of 75% in the services new orders while we continue to see a decline in fossil power demand in India. This is in line with the strategy to position GEPIL as a service company and focus towards margin and cash accretive business. The company has taken measures to optimize capacity and will continue to focus on emissions, services business."

Meanwhile, the board has recommended a dividend of Re 1 per equity share for the year ended 31 March 2021.

During the financial year, G E Power India's consolidated net profit declined 16.71% to Rs 70.46 crore on 36.68% increase in revenue from operations to Rs 3,343.02 crore in FY 2021 over FY 2020.

G E Power India is engaged in engineering, procurement, manufacturing, construction and servicing etc. of power plants and power equipment.

Shares of G E Power India dropped 4.10% to Rs 336.85 on BSE. The scrip hit an intraday low of Rs 335 and an intraday high of Rs 358.75 so far.

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