GE T&D India posts Rs 8.61 cr net profit in Sept quarter

The company had reported a net loss of Rs 81.08 crore in quarter ended on September 30, 2019, a BSE fling stated. About the impact of COVID-19, it stated that it has made adequate provisions, wherever required, such as expected credit loss and estimated project cost.

GE T&D India has posted a net profit of Rs 8.61 crore in the September quarter on the back of higher revenues. The company had reported a net loss of Rs 81.08 crore in quarter ended on September 30, 2019, a BSE fling stated. Total income of the company rose to Rs 876.63 crore in the quarter up from Rs 832.13 crore in same period last year. It stated that the company currently has a strong order book in excess of Rs 5,200 crore, leading to a clear visibility of revenues over the next 18-24 months. It also informed that it has adequate fund-based credit facilities available from banks and other parties. About the impact of COVID-19, it stated that it has made adequate provisions, wherever required, such as expected credit loss and estimated project cost. Any further impact till the date of report, if any, of COVID-19 on current quarter financial results is not expected to be material, it added.