Techno Electric & Engineering's net profit jumped 19.59% in H1

KOLKATA: Techno Electric & Engineering Co Ltd ( TEECL), registered a 19.59 per cent jump in net profit to 108.84 crore in the first half of current fiscal compared to 91.01 crore in the corresponding period last year.

Income from Operations stood at 398.13 crore, compared to 431.88 crore of the corresponding period a year ago. Total Income from operations was at 204.45 crore for the second quarter of FY'13 against 242.16 crore in the corresponding quarter last fiscal.

Operating profit (EBIDTA) stood at 92.96 crore, up by 9.6 per cent from 84.82 crore in Q2 FY'12. Operating margin for the quarter was at 45.47 per cent against 35.03 per cent in Q2 FY'12.

TEECL reported a growth in PAT at 68.15 crore during the second quarter, against 58.19 crore in the corresponding period of the last fiscal, an increase of 17.11 per cent. EPS stood at 11.94 against 10.19 in Q2 FY'12.

Revenue from its engineering procurement and construction segment was 125.17 crore against 187.73 crore in the corresponding quarter of the previous year.

Revenue from energy segment was up 45.64 per cent at 79.27 crore from 54.43 crore in the corresponding quarter of the previous year. The total wind capacity of 207.35 MW generated 204.44 million units of energy in Q2 FY'13.

Commenting on the results, P.P. Gupta, managing director, TEECL, said, "The Indian economy is going through uncertain times with high inflation, fiscal deficits and lower- than-expected GDP numbers. The Power sector is currently at the brink of reforms. We are cautiously optimistic about prospects of an economic revival soon that would offer vast growth opportunities for players like us."