GE T&D India, a company specialising in power transmission and distribution solutions, reported a net profit of Rs 66.3 crore for the March 2024 quarter, attributing the gain to increased revenue.
The profit of Rs 663 million (Rs 66.3 crore) contrasts with a loss of Rs 154 million (Rs 15.4 crore) in the quarter-ended March 2023, according to the company's statement.
The revenue for the reported quarter was Rs 9.1 billion (Rs 910 crore), marking a 30% rise from Rs 7 billion (Rs 700 crore) in the corresponding period last year.
The order bookings increased 53% to Rs 13.3 billion (Rs 1,330 crore), as compared to Rs 8.7 billion (Rs 870 crore) in the quarter-ended March 2023, it stated.
The board of directors of the company has recommended a dividend of Rs 2 per equity share for the financial year 2023-24 subject to shareholders' approval.
Sandeep Zanzaria, managing director and CEO of GE T&D India, said, "The company has strengthened its free cash flow position, and consequently, the board has proposed a dividend of Rs 2 per share to our shareholders, marking the first such instance in five years."
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