GE Power India Ltd. Reports 18.4% Increase in Total Income for Q3 2022
GE Power India Limited has reported its financial results for the third quarter ending 31 December 2022.
February 15, 2023. By News Bureau
The company's total income for the quarter was INR 5,445.1 million, up by 18.4% compared to the previous quarter, with a loss before exceptional items of INR (-) 194.7 million. The EBIDTA (before interest, tax, depreciation, and amortization) for the quarter ended at (-) 0.1%, an improvement from the previous quarter.
Prashant Jain, Managing Director, GE Power India Limited said, “The turnaround of GE Power India Limited operations is taking longer than expected due in part to the slowdown in the FGD market. We are however seeing an uptick in the market overall for upgrades, with the market size being larger than at the same time last year, but still not at the level we were anticipating.
Core Services is an area where we are seeing good progress and where we grew 12% over Quarter Ended 31 December 2021. We are continuing our work on further services growth, which will be a focus for the quarters to come. Also, on the core service execution side we are doing well with high productivity".
"As India is advancing on its energy transition journey, GE Power India Limited is uniquely positioned as a partner to our customers. Coal will continue to play a significant role for the foreseeable future, albeit, as more renewable energy sources are being added to the grid, this role may change, and with that the operating models of coal power producers, which will require different services needs. Our deep industry experience as an Original Equipment Manufacturer (OEM) as well as our dedicated and highly skilled team in engineering and project execution are enabling us to respond to our customers’ needs with the necessary speed and flexibility" he added.
GE Power India Limited completed several key projects during the third quarter, including the renovation and modernization of NTPC's Ramagundam super thermal power station unit 3, which led to efficiency improvements, CO2 reductions, extra power, and fuel cost savings.
The company also implemented NOx control solutions at Vendanta and UPRVUNL Parichha, enabling them to become compliant with new emission norms.
The company signed an MOU with NTPC Limited to demonstrate technologies that could reduce the carbon footprint of NTPC's existing coal-fired power plants.
GE Power India Limited received key services orders from NSPCL Durgapur for the supply of turbine blades, Saundatti IREP for the upgrade and retrofit of the excitation system, and Hindalco Hirakud unit 3&4 for the supply of the evaporator and economizer coil.
GE Power India Limited completed the installation of India's first variable speed 490T rotor for Tehri PSP project in Uttarakhand, India. The company also completed the refurbishment of nozzle assemblies for Dai Ninh and dispatched one unit of nozzle injector bodies for the Tala project in Bhutan.
please contact: contact@energetica-india.net.
JK Agarwal
Chairman
For the upcoming 15th Edition, Elecrama 2023, we have more than 1,500 exhibitors
Anil Gupta
MD & CEO
By July 2025, we would be in the market to deliver a complete 10 GW integrated capacity
Raman Dhillon
Head - Digital Transformation
BPCL Plans to Spend Around Rs 25,000 Cr in Building Renewable Energy Capacity
Vineet Mittal
Chairman
Our decade-end goal is to sell green molecules, not green energy
Vineet Mittal
Director & Co-Founder
Poor implementation of policies, and dynamic policies are biggest challenges in solar sector