Triveni Turbine net profit up 18 pc at Rs 27 crore in Q3

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."