Alstom T&D India, an arm of French firm Alstom, today reported 89 per cent rise in net profit at Rs 28.4 crore for the quarter ended June 30 on the back of higher income.
The company's net profit in the corresponding quarter of the last fiscal was Rs 15 crore, the company said in a filing to BSE.
Total income from operations of the power transmission and distribution equipment firm went up to Rs 673 crore over Rs 586.7 crore in the corresponding quarter of the year-ago period, it said.
The total expenses of Alstom T&D India increased to Rs 616.1 crore, over Rs 545.9 crore in the same quarter of the last fiscal, the company said.
GE Energy Europe had earlier made an open offer to power equipment maker Alstom T&D India for buying 25 per cent stake in the company for Rs 1,672.3 crore.
"As per the announcement, the acquirer will proceed with offer, only if the underlying transaction to the offer is consummated. The board of directors of ultimate holding company, Alstom SA, has also made its recommendation in favour of acquisition of its thermal power, renewable power and grid sectors, as well as its corporate and shared services," the company said in a BSE filing.
Shares of the company closed at Rs 355.10 apiece on BSE, up 10.65 per cent from the previous close.
