Triveni Engineering net up 39%

BS 200 SCORECARD

Ties-up with Italian firm for making naval equipment.

To further consolidate the 39 per cent growth in its net profits during the fourth quarter, Triveni Engineering and Industries Ltd (TEIL) has joined hands with Italy-based Fincantieri for part manufacturing and assembling mechanical equipment for maritime and naval vessels.

The company, engaged in manufacture of sugar and mechanical equipment like steam turbines, water and waste water treatment equipment, posted net profit of Rs 39.8 crore in the quarter ended March 2006.

The agreement signed with the Italian company also involves steam turbine supply to the Indian Navy and is hence subject to the latter's approval.

The company also plans to nearly double its co-generation capacity to 45 mw and set up a distillery unit with a capacity of 160 kilolitres per day.

The company reported 32 per cent increase in net profit during the full year ended March 2006 to Rs 131 crore and 24 per cent growth in turnover to Rs 1,192 crore during the financial year.