
Industrial turbine manufacturer Triveni Turbine Ltd posted a muted performance for the September quarter. The company’s profits and margins remain largely unchanged from a year ago.
The company reported a net profit of ₹91.2 crore. This is almost flat against ₹90.9 crore in the same quarter last year. Revenue came in marginally higher at ₹506.2 crore. This is compared with ₹501.1 crore a year earlier, showing limited improvement in order execution during the quarter.
Operating profit, or EBITDA, stood at ₹114.2 crore. This is up slightly from ₹111.6 crore last year. The EBITDA margin remained steady at 22.6%, versus 22.3% a year ago.
At its meeting on November 10, the company’s board also approved a shift of its registered office to a new location in Noida and extended Ernst & Young LLP’s term as internal auditor for another three years.
Shares of Triveni Turbine closed 2.84% higher on Monday, even as the stock has lost nearly 30% of its value so far this year, reflecting weak sentiment around industrial equipment stocks.
In the previous quarter, the company had reported a sharp 19% drop in profit to ₹64.5 crore, with revenue falling nearly 20% to ₹371.3 crore, mainly due to slower project execution. Operating profit for that period slipped to ₹73.8 crore, and margins narrowed to 19.8% from 20.6% a year earlier.
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