Alstom T&D India Post big profit!
Alstom T&D India on Friday posted a 70.68 per cent increase in net profit at Rs 35.52 crore for the quarter ended September, driven by improved execution efficiency.
The power transmission major had reported a net profit of Rs 20.81 crore for the corresponding quarter last fiscal year, it said in a filing to the BSE.
Net income from operations during the quarter under review improved 13.13 per cent to Rs 907.62 crore, from Rs 802.24 crore in the corresponding quarter last year.
“With continued focus on project execution, the company has delivered good operational performance which translated into improved sales and profits despite challenging market conditions,” managing director Rathin Basu said.
During the second quarter, Alstom signed an agreement with the Power Grid Corporation (PGCIL) for the second phase of the Champa-Kurukshetra 800 kV high voltage direct current (HVDC) project.
Alstom T&D India’s share in the contract was around Rs 1,430 crore.
“The quarter was marked by a record high backlog. With the prestigious win of Phase 2 of the Champa-Kurukshetra HVDC project, Alstom has confirmed once again, its leadership position in the 800 kV HVDC market in India,” he said.
Apart from this, the company bagged few more orders from PGCIL for 400 kV AIS substations as well as an order from Maharashtra State Electricity Transmission Company (Mahatransco) for 400 kV AIS and GIS substations.
In total, the company bagged orders worth Rs 2,237.70 crore during the quarter ended September 2014.
During the quarter, the company commissioned 765 kV AIS bays for Bhopal-Dhule substation for Sterlite Industries and also commissioned 400 kV reactors at Itarsi, Gwalior, Phadge, Raigarh, Bhattapara, Raipur and Sujalpursites of Power Grid.
Recently, it also commissioned a 220kV line bay in Rajasthan for Cairns India, the release said.