Triveni Turbine Q3 Profit Soars 30% to Rs 68.30 Crore

Triveni Turbine Limited, a leading manufacturer of steam turbines and generators, announced a significant increase in its consolidated net profit for the third quarter (Q3) of the ongoing fiscal year (FY) 2023-24. The company's net profit climbed by an impressive 30% to reach Rs 68.30 crore in the December quarter, compared to Rs 52.60 crore recorded in the corresponding period of the previous year.

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Factors Driving Growth

The surge in Triveni Turbine's profitability is primarily attributed to higher income during the quarter. The company's total income witnessed a substantial rise, growing from Rs 337.70 crore in Q3 FY2022-23 to Rs 448.92 crore in Q3 FY2023-24, marking an increase of approximately 33%.

Order Booking and Export Contribution

Triveni Turbine experienced robust growth in order booking during the April-December period of FY2023-24. The company's order book grew by an impressive 27% to reach Rs 1,443 crore, compared to the previous corresponding period. Notably, the contribution from exports increased significantly, rising from 42% to 53% during the same period.

Improved Profitability

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also witnessed a significant rise of 34%, climbing from Rs 75 crore in Q3 FY2022-23 to Rs 100.9 crore in Q3 FY2023-24.

Dividend Declaration and Expansion Plans

Triveni Turbine's board of directors declared an interim dividend of Rs 1.30 per fully paid-up equity share of face value Re 1 each and a special dividend of Re 1 per fully paid-up equity share of face value Re 1 each for the financial year 2023-24.

Additionally, the board approved the incorporation of Triveni Turbines Americas Inc as its wholly-owned subsidiary in Texas, United States, marking the company's expansion into the North American market.

Triveni Turbine's strong performance in Q3 FY2023-24, characterized by higher income, robust order booking, and improved profitability, reflects the company's resilience and growth potential. With a strong order book and increased export contribution, Triveni Turbine is well-positioned to sustain its growth trajectory and deliver enhanced value to its stakeholders in the coming quarters.