Power transmission and distribution solution company GE T&D India on Tuesday posted a net profit of Rs 66.3 crore in the March 2024 quarter backed by higher revenues. "Profit was at Rs 663 million (Rs 66.3 crore), against loss of Rs 154 million (Rs 15.4 crore) in quarter ended March 2023," a company statement said.
Revenue stood at Rs 9.1 billion (Rs 910 core) in the reporting quarter, up 30% against Rs 7 billion (Rs 700 crore) in the year-ago period.
The order bookings increased 53% to Rs 13.3 billion (Rs 1,330 crore) compared to Rs 8.7 billion (Rs 870 crore) in 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 & CEO of GE T&D India, said in the statement, "The company consolidated its position on free cash flow, and the board has recommended a dividend of Rs 2 (per share) to our shareholders after a gap of 5 years."
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