Triveni Engg net drops 9.9%

BS 200 Scorecard

Triveni Engineering and Industries registered 6 per cent rise in net sales at Rs 588 crore for the half year ended on September 30, 2006, compared with Rs 557 crore in the year-ago period.

However, net profit for the period dropped to Rs 63.1 crore, a decline of 9.9 per cent over the same period last year on account of lower sugar sales.

Order booked for the engineering division stood at Rs 568 crore, much higher than the turnover of last fiscal. Profit before interest and tax for the engineering sector in the second quarter was Rs 32.4 crore, while that of the first half was Rs 56.8 crore. The steam turbine business recorded revenues of Rs 229.6 crore in the first half.

The sugar business recorded revenues of Rs 154 crore in the second quarter and Rs 337.6 crore for the first six months.

The revenue from sugar business has witnessed a downward trend because of a lower opening inventory. Sugar dispatches by the company was 24 per cent lower for the first six months compared with last year.

Chairman and managing director Dhruv M Sawhney said, "The management expects the current fiscal to be robust on account of capacity enhancement in sugar production to 61,000 tonne crushed daily (tcd)".