GE T&D India profit jumps multi-fold to Rs 37.12 cr in Q2

GE T&D India on Wednesday posted a multi-fold rise in its net profit to Rs 37.17 crore in the July-September quarter compared to the year-ago period.

Its net profit stood at Rs 2.76 crore in the quarter ended on September 30, 2022, a BSE filing showed.

Total income of the company declined to Rs 706.90 crore in the quarter from Rs 728.84 crore in the same period a year ago.

Sandeep Zanzaria, Managing Director & CEO of GE T&D India said in a statement, ''We witnessed a continued surge in the order book in Q2, driven by India’s energy transition needs and government's focus on renewable energy schemes. ''We are also pleased to report a notable improvement in profit in the second quarter along with a significant reduction in net debt.'' The order bookings were Rs 1,080 crore, up 123 per cent compared to Rs 490 crore in the July-September quarter of 2022.

With over 100 years of presence in India, GE T&D India is a leading player in the Power Transmission & Distribution business - A product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.