Alstom Power India has reported a net profit of Rs 10.55 crore for the first six months of the current fiscal as against a net loss of Rs 4.37 crore during the same period last year.
Announcing the results, Krishna Pillai, managing director of the company, said the improved result was mainly on account of substantial revenue coming from order backlogs.
"We have managed to return to profits due to healthy order intake during the January-June period this year to the tune of Rs 300 crore, with the order backlog remaining unchanged at Rs 890 crore," Pillai said.
He said in last six months, the company had shifted its focus to supply of equipment to smaller power plants. Pillai, however, added that the future was totally tied up with the larger power projects.
He said in the absence of large projects, the company had to shift its focus to small projects, supply of components, servicing and maintenance.
The company recorded a sales turnover of Rs 318.47 crore during the first six months of 2001, as against Rs 81.72 crore during the year-ago period.
Pillai said Alstom Power would shift to the April-March financial year accounting pattern from April 2002, thereby extending the current year to 15 months from January 2001 to March 2002.
He added the company had appointed global consultants KPMG for doing a cost-based analysis to explore all possibilities and options for consolidating the functioning of all 16 group companies in the country.
