GE T&D India reports Rs 81 cr loss for Sept quarter

GE Group company GE T&D India has reported a loss of Rs 81.08 crore for the quarter ended September 30. The company had posted a net profit of Rs 51.48 crore in the corresponding quarter of the previous fiscal, it said in a BSE filing.

Total income in the quarter dipped to Rs 832.13 crore from Rs 1,017.08 crore a year-ago. The company said that order bookings for the quarter stood at Rs 690 crore as compared to Rs 720 crore earlier.

For the April-September period, the order book was at Rs 1,110 crore compared to Rs 1,330 crore a year ago. The company also announced the appointment of Pitamber Shivnani as chief executive officer (CEO) with effect from January 15, 2020.

Pitamber has rich experience of over 32 years in the transmission industry. Prior to this, he was president and head power grids division of ABB India. GE T&D India is a player in the power transmission and distribution business.

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