GE Power spurts on reporting turnaround Q2 numbers

GE Power India rallied 4.30% to Rs 412 after the electric utility company reported a consolidated net profit of Rs 66.87 crore in Q2 FY25 as against a net loss of Rs 61.85 crore in Q2 FY24.

Total income fell by 2.53% year on year (YoY) to Rs 244.45 crore in the second quarter of FY25.

The company has recorded a profit before tax of Rs 10.02 crore in Q2 FY25 as compared with a pre-tax loss of Rs 38.50 crore in Q2 FY24.

EBIDTA margin for the quarter ended (QE) 30 September 2024 is 9.1%, compared to (-) 6.3% for the quarter ended (QE) 30 September 2023.

The order backlog was at Rs 2,559.7 crore during the quarter ended September 2024 as against Rs 1,761.1 crore in same quarter last year.

Puneet Bhatla, MD, GE Power India said, The second quarter of the financial year 2024-25 fared strongly for executing on our strategy with 2X growth specifically for Upgrade and Core Services as compared to the preceding year. GEPIL completed the sale and transfer of said Gas Power Business in accordance with the terms of the business transfer agreement entered into with the purchaser dated 15 July 2024.

I am pleased to share that your Company received the Wanakbori Steam Turbine upgrade project from GSECL as well as the Boiler R&M project for the Vedanta, Jharsuguda power station. This is the fourth consecutive quarter with positive one-time impact (EBITDA) supported by claims.

GE Power India is one of the leading players in the Indian power generation equipment market. Hydro and Gas business are also housed in the company in addition to Steam Power. The company offers a comprehensive portfolio of power generation solutions with a focus on emissions control and services portfolio providing sustainable, affordable and reliable electricity.

Powered by Capital Market - Live News