02 Feb , 2022 By : monika singh
NEW DELHI – Shares of Triveni Turbine gained 4.3 per cent in early trade Wednesday as strong revenues led to the steam turbine manufacturer reporting a nearly 30 per cent on-year rise in consolidated net profit in October-December at Rs 35.67 crore.
The company had reported a consolidated net profit of Rs 27.54 crore in the same period a year ago.
The counter rose to a high of Rs 215 against the previous close of Rs 206.10 on the National Stock Exchange.
The company’s net sales clocked in at Rs 225.15 crore in December 2021, registering a rise of 29.72 per cent from Rs. 173.56 crore in December 2020.
The EBITDA (Earnings before Interest Taxes Depreciation and Amortization) was at Rs. 53.42 crore in December 2021 up 33.25 per cent from Rs. 40.09 crore in December 2020, reports said.
Triveni Turbine’s EPS increased to Rs. 1.10 in December 2021 from Rs. 0.85 in December 2020, reports said.
The company’s total income rose to Rs 233.52 crore in the quarter, up from Rs 178.97 crore in the same period a year ago, reports said.
"Though Covid-19 re-emerged this quarter with the Omicron variant, Triveni Turbines continued to strengthen and improve its market position especially in the above 30 MW segment, where the company is approaching the market independently following the amicable resolution with General Electric and Baker Hughes pertaining to Triveni Energy Solutions Ltd (TESL) (formerly GETL) that was announced in the previous quarter,” Dhruv M Sawhney, Chairman and Managing Director, Triveni Turbine Limited was quoted as saying.
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