Triveni Engineering Faces Profit Dip Amid Rising Expenses

Triveni Engineering and Industries reported a 69% decrease in net profit, earning Rs 42.57 crore for the December quarter due to increased expenses. Despite a 3% rise in total income to Rs 1,600 crore, expenses climbed by 12.44%. The board approved Dhruv M Sawhney's reappointment and a Rs 60 crore capex for power transmission.

Triveni Engineering and Industries has experienced a challenging December quarter, with a pronounced 69% decline in consolidated net profit to Rs 42.57 crore. A significant factor contributing to this decline was the surge in company expenses.

Despite an encouraging 3% increase in total income, rising to Rs 1,600 crore, the company's financial health was impacted by a notable 12.44% hike in expenditures, amounting to Rs 1,566.76 crore, compared to the same period last year.

In response to these challenges, the board has reappointed Dhruv M Sawhney as managing director and approved a capital expenditure of Rs 60 crore aimed at enhancing the capacity of the power transmission sector.

(With inputs from agencies.)