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Triveni Turbine Q2 net profit up 67 pc at Rs 50 cr

Press Trust of India  |  New Delhi 

Steam turbine maker Triveni Turbine Ltd (TTL) on Wednesday posted a 67 per cent jump in consolidated net profit at Rs 50.23 crore in the second quarter on higher revenues.

The company had reported a consolidated net profit of Rs 30.12 crore in the year-ago quarter, a BSE filing said.

Total income rose to Rs 252.58 crore during the quarter under review from Rs 222.64 crore a year ago.

"The performance of the company has been in line with our expectations both for the quarter and half year under review. The company achieved its highest ever turnover and net profit for quarter and half year during the period under review," TTL Chairman and Managing Director Dhruv M Sawhney said.

Total order booking during the half year is lower than the corresponding period of last year mainly due to lower exports order booking, which is primarily due to postponement of order finalization in July-September, he said.

"The improvement in margins to the earlier years are in line with our earlier commentary and is the result of the cost control along with value engineering undertaken in the past years," Sawhney added.

The company's board also approved an interim dividend of Rs 0.50 per equity share for the financial year ending March 31, 2020.

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

First Published: Wed, November 06 2019. 20:40 IST