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GE T&D India reports reverse turnaround in Q3

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GE T&D India announced its Q3 numbers after trading hours yesterday, 10 February 2020.

Net loss after tax stood at Rs 37.70 crore in Q3 December 2019 (Q3 FY20) as against a net profit after tax of Rs 53 crore reported in Q3 December 2018 (Q3 FY19).

On a standalone basis, net sales tanked 19.65% year-on-year (Y-o-Y) to Rs 940 crore in Q3 FY20.

The operating loss for the quarter stood at Rs 31.10 crore in Q3 December 2019 as against an operating profit of Rs 102.10 crore recorded in Q3 December 2018.

Order bookings for the quarter dropped 13.19% to Rs 1,250 crore in Q3 December 2019 over Rs 1,440 crore in Q3 December 2018.

During the quarter, it has secured orders from Sterlite Power, Jammu & Kashmir Power Development Department (JKPDD), Adani Transmission and Uttar Pradesh Power Corporation.

Shares of GE T&D India slumped 7.16% to close at Rs 160.90 on BSE yesterday, 10 February 2020.

GE T&D India is engaged in offering switchgear of all types, control panels, power transformers, electrical substation projects and services. The firm operates through domestic and overseas segments. The company offers a portfolio of products, solutions, automation and services, comprising a range of transmission equipment up to extra and ultra high voltages.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 11 2020. 08:47 IST