Triveni Turbine Reports Record Q2 Earnings, Stock Surges 3%

2 Nov 2023 , 11:09 AM

Triveni Turbine stock saw a 3 % surge in morning trade following its highest-ever revenue and EBITDA, in the July-September quarter of the current fiscal. The stock of this steam turbine manufacturer has shown a 39 % increase in value this year, outpacing the benchmark Sensex’s 4 % rise. However, it is currently trading 23 % below its 52-week high of Rs 456 reached on September 28, 2023.

In the September quarter, the company’s revenue increased by 32 % year-on-year to Rs 388 crore, and EBITDA rose by 34 % to Rs 88 crore. Triveni Turbine’s profit after tax (PAT) also surged by 38 %, reaching Rs 64 crore. Chairman and managing director Dhruv M Sawhney emphasized the company’s strong results in terms of revenues, profitability, and order booking.

The company’s strategic focus includes expanding its exports and broadening its after-market services portfolio to enhance growth opportunities and profitability, given the better margin profiles of both segments. Triveni Turbine is a prominent global manufacturer of industrial steam turbines and offers after-market services, including turbines and other rotating equipment like compressors and rotors.

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