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GE T&D India receives a €64M order from France’s Grid Solutions. They also report a ₹66.3 crore profit for Q4 2024, reversing last year's loss. Its revenue increased by 30% and the company proposed a dividend of ₹2 per share.
Power transmission and distribution specialist GE T&D India Ltd. has secured a significant order valued at €64 million from France's Grid Solutions.
This order, announced on Wednesday, will involve the supply of high-voltage products and will be executed over the next two years. The order is part of a larger project being executed for an end customer by the group company.
In the March 2024 quarter, GE T&D India reported a net profit of ₹66.3 crore, a significant turnaround from the loss of ₹15.4 crore in the same period the previous year.
This profit increase is attributed to higher revenue, which stood at ₹910 crore, marking a 30% rise from ₹700 crore in the corresponding quarter of the previous year.
The company's order bookings surged by 53%, reaching ₹1,330 crore compared to ₹870 crore in the same quarter last year. This increase in orders indicates robust demand and strong business momentum for GE T&D India.
The board of directors has recommended a dividend of ₹2 per equity share for the financial year 2023-24, pending shareholder approval. This marks the first dividend proposal by the company in five years, underscoring its improved financial health and positive cash flow position.
Sandeep Zanzaria, Managing Director and CEO of GE T&D India, expressed optimism about the company's financial health and prospects. He highlighted the strengthened free cash flow position and the proposed dividend as key indicators of the company's robust performance and commitment to returning value to shareholders.
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