GE Power India Cuts Losses and Sees Order Backlog Surge

GE Power India has reported a significant reduction in its consolidated loss to Rs 9.53 crore for the June 2024 quarter, down from Rs 135.79 crore in the same period of the previous year. The company's total income rose to Rs 465.80 crore, and the order backlog increased by 15.8%.

GE Power India has made considerable strides in narrowing its losses, reporting a consolidated loss of Rs 9.53 crore in the June 2024 quarter. This is a substantial improvement from the Rs 135.79 crore loss incurred in the corresponding quarter of the previous year, according to a recent regulatory filing.

The company also saw an uptick in total income, which increased to Rs 465.80 crore from Rs 440.28 crore year-on-year. The order backlog for the quarter ended June 2024 was Rs 3,917 crore, marking a 15.8% increase compared to Rs 3,382.3 crore in June 2023.

Prashant Jain, Managing Director of GE Power India, noted that the positive start to the financial year 2024-25 is attributable to the company's strategy, which has successfully translated into orders and a favorable sales mix. GE Power India Ltd remains a key player in the Indian power generation equipment market.

(With inputs from agencies.)