Triveni Engineering and Industries Ltd today posted 21.33 per cent drop in its consolidated net profit at Rs 60.1 crore during the third quarter of the 2017-18 fiscal.
Net profit stood at Rs 76.4 crore in the year-ago period, the company said in a statement.
Gross revenue increased to Rs 772.6 crore in October- December of 2017-18 from Rs 723.7 crore in the same period last year.
However, for nine months of the 2017-18 fiscal, the company's net profit rose by 15 per cent to Rs 221.2 crore as against Rs 192.5 crore in the year-ago period.
Triveni Engineering Chairman and Managing Director Dhruv M Sawhney said the cogeneration business has fared much better than the previous comparable period in view of sufficient cane supply and increased operational period.
The distillery business has been impacted during the period under review due to certain regulatory interventions and it is expected to improve in the coming quarters, he said.
Gears business, during the quarter has performed well in terms of turnover, profitability and the order booking which augurs well for the business going forward, he added.
The company has seven sugar mills in Uttar Pradesh and a gears manufacturing facility at Mysore in Karnataka.
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