Triveni Turbine Records 37% Surge In Q4 Net Profit

Triveni Turbine on Thursday posted a 37% rise in consolidated net profit to Rs 76.2 crore in the March quarter, mainly on the back of higher revenues.

Its consolidated net profit stood at Rs 55.6 crore in the quarter ended on March 31, 2023, a company statement showed.

According to the statement, the Board of Directors has recommended a payment of final dividend at the rate of 130% (Rs 1.30 per equity share of Rs 1 each) for 2023-24, subject to approval of shareholders.

This is in addition to the interim and special dividend at the rate of 230% (Rs 2.30 per equity share of Re 1 each) of Rs 2.30 per share declared and paid for the financial year 2023-24, it stated.

Triveni Turbine Chairman and Managing Director Dhruv M Sawhney said in the statement, "Revenues in FY24 grew 33% over the previous year to reach record level of Rs 16.54 billion (Rs 1,654 crore). Earnings per share grew an impressive 42% to Rs 8.47 for the year."

In FY24, the company touched yet another milestone by achieving record order booking consecutively for the past three years, he said.

Order booking for the year was Rs 18.78 billion (Rs 1,878 crore), higher by 17% year-on-year, with export contribution increasing to 54 % as against 42% in the previous year, demonstrating the success of our internationalisation efforts over the last few years, he added.