Triveni Turbine Q3 net profit down 32 pc at Rs 20.74cr

Triveni Turbine Ltd today reported a 32 per cent decline in net profit at Rs 20.74 crore for the third quarter ended December 31.
The company, which is a leading manufacturer of steam turbines of up to 30 MW, had posted a net profit of Rs 30.52 crore in the year-ago period.
Net sales also fell by 19 per cent to Rs 140.75 crore during October-December quarter of this fiscal as against Rs 173.04 crore in the corresponding period of previous year.
Commenting on the results, Triveni Turbine Ltd Chairman and Managing Director Dhruv M Sawhney said: "The performance of the business for the quarter and nine months under review from the turnover and profitability point of view has been lower than our expectations."

The third quarter saw significant order intake as many enquiries which were in the pipeline got concluded during this period. The product order intake exceeded the H1 figures by over 25 per cent.
"However, the macroeconomic factors - economic slowdown, currency depreciation, lower credit, etc, both domestically and in the addressable markets globally still continue, which has impacted both the order booking and revenue.
"Even though the enquiry books for both domestic and overseas markets remain strong, delays in order finalisation as well as delay in taking deliveries by customers are some of the challenges being faced," Sawhney said.
Triveni Turbines order book stands at Rs 520 crore.