On a consolidated basis, G E Power India's net profit rose 7.7% to Rs 16.02 crore on 27% rise in net sales to Rs 930.50 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax fell 3% to Rs 24.57 crore in Q4 FY21 as against Rs 25.33 crore in Q4 FY20. The Q4 earnings were announced after trading hours yesterday, 22 June 2021.
Prashant Jain, the managing director of GE Power India, said: "In FY2020-21 we continue to deliver on our services new orders growth strategy and have seen Y-o-Y growth of 75% in the services new orders while we continue to see a decline in fossil power demand in India. This is in line with the strategy to position GEPIL as a service company and focus towards margin and cash accretive business. The company has taken measures to optimize capacity and will continue to focus on emissions, services business."
Meanwhile, the board has recommended a dividend of Re 1 per equity share for the year ended 31 March 2021.
During the financial year, G E Power India's consolidated net profit declined 16.71% to Rs 70.46 crore on 36.68% increase in revenue from operations to Rs 3,343.02 crore in FY 2021 over FY 2020.
G E Power India is engaged in engineering, procurement, manufacturing, construction and servicing etc. of power plants and power equipment.
Shares of G E Power India dropped 4.10% to Rs 336.85 on BSE. The scrip hit an intraday low of Rs 335 and an intraday high of Rs 358.75 so far.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU