Triveni Turbines Q4 net profit rises 23 pc at Rs 30.59 crore

NEW DELHI: Industrial steam turbine maker Triveni Turbines today posted 23 per cent jump in standalone net profit at Rs 30.59 crore in the quarter ended March 31, 2013 on strong overseas sales.

The company had achieved a net profit of Rs 24.91 crore in the same quarter corresponding year.

Net income rose to Rs 190.58 crore in the fourth quarter of 2012-13 fiscal from Rs 142.75 crore in the same period last year, Triveni Turbine Ltd (TTL) said in a statement.

Commenting on the performance, TTL Chairman and Managing Director, Dhruv M Sawhney said, "Export turnover, which went up by 98 per cent during the year, has been one of the main drivers for improved profitability".

The company expanded its geographic reach from its established market of South East Asia to newer markets of Africa, South America and Europe especially in the bio-mass and waste to energy segments, he said.

For the 2012-13 fiscal, the company said its consolidated net profit increased to Rs 104.49 crore, as against Rs 87.40 crore in the previous fiscal.

Net income increased to Rs 663 crore from Rs 629.85 crore in the review period, it added.

Triveni Turbines is engaged in manufacturing steam turbines and providing steam turbines solutions. Its manufacturing facility is located in Bangalore with capacity to produce 80-100 steam turbines per year.

Shares of the company rose by 1.78 per cent to close at Rs 57.10 on the BSE.