 "GE T&D India Q2 results: Net profit jumps multi-fold to Rs 37.12 cr")
GE T&D India on Wednesday posted a multi-fold rise in its net profit to Rs 37.17 crore in the July-September quarter compared to the year-ago period.
Its net profit stood at Rs 2.76 crore in the quarter ended on September 30, 2022, a BSE filing showed.
Total income of the company declined to Rs 706.90 crore in the quarter from Rs 728.84 crore in the same period a year ago.
Sandeep Zanzaria, Managing Director & CEO of GE T&D India said in a statement, "We witnessed a continued surge in the order book in Q2, driven by India's energy transition needs and government's focus on renewable energy schemes.
"We are also pleased to report a notable improvement in profit in the second quarter along with a significant reduction in net debt."
The order bookings were Rs 1,080 crore, up 123 per cent compared to Rs 490 crore in the July-September quarter of 2022.
With over 100 years of presence in India, GE T&D India is a leading player in the Power Transmission & Distribution business - A product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.
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