GE T&D India posts Rs 56 cr profit in Dec qtr

Any further impact till the date of the report, if any, of COVID-19 on current-quarter financial results is not expected to be material, it added.

GE T&D India on Friday posted Rs 55.92 crore profit in the December quarter on the back of higher revenues.

The company had reported a loss of Rs 37.73 crore in the quarter ended December 2019, it said in a BSE filing.

The total income of the company rose to 1,057 crore in the quarter from Rs 952.11 crore a year ago.

The company is engaged in the business relating to products, projects and systems for electricity transmission and related activities only.

About pandemic impact, it said, ''The management, have evaluated the impact of the pandemic on its business operations under various scenarios. The company currently has a strong order book in excess of Rs 4,900 crore leading to clear visibility of revenue over the next 18-24 months. The company has adequate fund-based credit facilities available from banks and other parties.'' The company through the lockdown period and even subsequently has been able to maintain adequate control of its assets and there have been no significant changes to its control environment during the period, it added.

The firm has evaluated the impact of COVID-19 on the financial results and made adequate provisions, wherever required, such as expected credit loss, estimated project costs etc. Any further impact till the date of the report, if any, of COVID-19 on current-quarter financial results is not expected to be material, it added.