Triveni Turbine net profit grows 68% to Rs 55.6 cr in March quarter

Triveni Turbine Ltd (TTL) on Tuesday posted a 68.5 per cent jump in its consolidated net profit at Rs 55.6 crore during March 2023 quarter, boosted by higher revenues.

It had clocked Rs 33.0 crore net profit during January-March quarter of preceding financial year 2021-22, TTL said in a statement.

The company's revenues from operations also rose by 56.3 per cent to Rs 369.8 crore from Rs 236.6 crore in the year ago quarter.

CMD Dhruv M Sawhney said: "Our company has delivered yet another record year in FY23, building upon the strong foundation of the previous year. In the year gone by, We achieved highest ever turnover at Rs 12.48 billion, with an impressive growth of 46 per cent over the previous financial year."

On the order booking front, the company's performance has been the highest ever with total order booking of Rs 16.05 billion, he said.

The contribution of exports in total turnover has increased to 45 per cent in FY23 from 30 per cent in FY22.

The company is a leader in industrial steam turbines in India and also among the leading manufacturers of industrial steam turbines globally.