GE Power India reports Rs 34.12-crore loss for December quarter

GE Power India reported a consolidated net loss of Rs 34.12 crore in the December 2021 quarter.

The company reported a consolidated net profit of Rs 35.09 crore in the quarter ended on December 31, 2020, according to a BSE filing.

Its total income during October-December 2021 dipped to Rs 798.29 crore, compared with Rs 1,143.13 crore in the year-ago period.

"This was the strongest quarter for core services in the past couple of years. We have booked orders worth Rs 961 million (Rs 96.1 crore), including a significant mill's spare parts order for the year from NTPC Rihand.

"We have seen a 65 per cent growth in Q3 compared to the previous quarter in core services and this was the highest quarterly intake in the FY," Prashant Jain, managing director of GE Power India, said.

However, the finalisation of key orders in upgrades got postponed due to the deferment of the customer's outage schedule, he added.

The company won an order for the supply of Wet FGD in association with Apollo International for MB Power 2x600 megawatt (MW) contributing towards a cleaner future for the nation, Jain said.