GE Power India Swings to Profit Amid Cost-Cutting Success

GE Power India reversed last year's financial loss by posting a net profit of Rs 66.8 crore for the September 2024 quarter. The turnaround was primarily driven by a decrease in expenses. However, total income decreased compared to the same period in the previous fiscal year.

GE Power India announced a notable turnaround with a net profit of Rs 66.8 crore for the quarter ending September 2024, overcoming a Rs 61.8 crore loss from the same quarter the previous year.

The company's success is attributed to a significant reduction in expenses, which fell to Rs 235.3 crore from Rs 286.7 crore year-on-year, thus pivoting its financial trajectory.

Despite the profit, the total income of the company dropped to Rs 244.4 crore, down from Rs 250.8 crore in the comparable period of the 2023-24 fiscal year, reflecting challenges in revenue generation.

(With inputs from agencies.)