Techno Electric's Q1 FY13 PAT at Rs 40.7 crore, up 24%

KOLKATA: Techno Electric & Engineering Company Ltd (TEECL), a power sector EPC company with presence in power generation & transmission announced a 24% rise in net profit to Rs 40.7 crore during the first quarter of the current financial.

TEECL reported a total income from operations of Rs 193.68 crore on a consolidated basis for the quarter, against Rs 189.71 crore in the corresponding quarter last fiscal; an increase of 2%.

EBIDTA stood at Rs 76.4 crore, up by 44% from Rs 53.09 crore in Q1FY12. Operating margin for the quarter stood at 39.45% against 27.98% in Q1FY12. It was up by 1147 bps compared to the corresponding quarter of the earlier year. This was mainly driven by new wind power capacity added during last year.

The EPC business, accounting for 68.53% of total revenue for the quarter, achieved a turnover of Rs 135.21 crore against Rs 161.6 crore in the corresponding quarter of the previous year. The carry forward order book as on 30th June 2012 stood at Rs 900 crore.

The energy segment saw a significant increase in revenues during this quarter due to incremental wind capacity as against last year. Revenue from the segment was up 107.98% to Rs 58.47 crore from Rs 28.11 crore in the corresponding quarter from the previous year.

The total wind capacity of 207.35 MW generated 145.74 million units of energy against 83.87 million units in Q1FY12.

Commenting on the results, P P Gupta, managing director, TEECL, said, "We are consistently specializing in complex EPC projects, scaling up our green energy generation capacity while leveraging the value from our PPP presence. This will result in catalysing growth and putting us in a strong position as we begin FY13."