Triveni Engineering Q2 net at Rs 23 crore

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Triveni Engineering Q2 net at Rs 23 crore
Triveni Engineering and Industries Ltd. (TEIL) reported net profit of Rs. 23.53 crore for the second quarter ending March 2011. For the same period last fiscal the company had posted net profit of Rs. 14.88 crore.

For the same period during Q2, FY"11, TEIL reported net sales of Rs. 455 crore. For Q2, FY"10, this figure stands at Rs. 593.85 crore.

For six months period ended on March 2011, the net sales and net profit is reported at Rs. 912.21 crore and Rs. 25.15 crore respectively compared to Rs. 1081.09 and Rs. 8782 respectively for the same period last fiscal.

Total expenditure for the quarter ending on March 2011 is reported at Rs. 419.61 crore compared to Rs. 564.69 crore for the same period last fiscal.

TEIL had undergone demerger during the last fiscal as the steam turbine business is turned into a new entity, Triveni turbine.

Under this circumstance, the current financial result is not comparable for with the same last fiscal.

The sugarcane production outlook is bleak for the current fiscal on the backdrop of lower than estimated production. The crushing season that usually last till May or June, was over by March itself.

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