Triveni turbines net profit rises by 47% in Q3FY23

Triveni Turbine posted a 47 per cent rise in consolidated net profit to INR 52.60 crore in the December quarter, helped by higher revenues. The consolidated net profit of the company stood at INR 35.67 crore in the quarter ended December 31, 2021, according to a BSE filing.

Total income rose to INR 326 crore in the third quarter of the current fiscal from INR 233.52 crore in the same period a year ago.

Dhruv M Sawhney, Chairman and Managing Director of Triveni Turbine said the company has continued its strong growth momentum with highest ever turnover and profitability during the quarter under review with both rising more than 40 per cent over the corresponding quarter of last year. The identified growth avenues are mainly three product sub-segments — leadership segment in less than 30 MW, newer focus segment of 30.1-100 MW and drive turbines. Besides, with a robust aftermarket strategy encompassing spares, service and multi-brand refurbishment, the company continues to cross new milestones both on operational and financial basis, he noted.

Order booking, which has averaged around INR 300 crore for the last six quarters, reached a new high of INR 420 crore in the latest December quarter. In the product segment, enquiries increased 31 per cent year-on-year and the company is witnessing higher enquiries especially from international markets such as Southeast Asia, Europe, West Asia, North America, he added.