Triveni Turbine's net profit in March quarter up y-o-y by 37%

17 May 2024 , 02:37 PM

Triveni Turbine’s shares surged over 8%, hitting a 52-week high of ₹654.40 following robust earnings for the quarter ending March.

At the time of writing, the shares of Triveni Turbine’s were trading at ₹628.30 which is a 3.83% increase than the previous close. The stock has gained 57.73% in the last one year, and 49.54% since the beginning of the year.

The company reported its Q4 results on May 16, with consolidated net profit increasing by 37% year-on-year to ₹76.2 Crore in January-March. Revenue from operations for the March quarter grew by 24% year-on-year to ₹458.1 Crore.

Triveni Turbine’s earnings before interest, tax, depreciation, and amortization (EBITDA) surged by 35.7% year-on-year to ₹106.9 Crore. The EBITDA margin of Triveni Turbine rose to 23.3% from 21.3% in the same period last year.

Triveni Turbine achieved its highest-ever annual order booking of ₹1,878 Crore during FY24, marking a 17% increase year-on-year. The company’s carry-forward order book as of March 31, 2024, stood at ₹1,553 Crore, up by 17% year-on-year. Additionally, the company announced a final dividend of ₹1.3 per share.

Dhruv M. Sawhney, Chairman and Managing Director of Triveni Turbine, expressed confidence in the company’s growth prospects, citing an expanding presence in global markets and increasing demand for renewable energy, energy efficiency, waste-to-energy (WtE), and decentralized power solutions segments. Sawhney stated that leveraging these opportunities domestically and internationally would enable Triveni Turbines to maintain growth and profitability in the forthcoming years.

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