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.
Explore: Ge T&d India Limited Share Price
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.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Commodities Market Today | Oil Up 0.47% Amid Supply Worries
05 Jul, 2024 | 2 Min. read
Share Market Today | GIFT Nifty Down 78 pts, Asian Markets Rise
05 Jul, 2024 | 4 Min. read
Gold Rate Today | Gold Up 0.02% Ahead of Fed Meeting Minutes Release
05 Jul, 2024 | 2 Min. read
BGR Energy Systems Announces ₹1,000 Cr Rights Issue to Boost Capital
05 Jul, 2024 | 2 Min. read
Raymond Real Estate Unit to Demerge, Shareholders Get 1:1 Shares
05 Jul, 2024 | 2 Min. read
Ircon International Secures ₹750.82 Cr Project from RVNL
05 Jul, 2024 | 2 Min. read
LIC Increases Stake in IDFC First Bank to 2.68% with ₹1,500 Cr Acquisition
05 Jul, 2024 | 2 Min. read
How to Dematerialize Your Physical Share Certificates?
05 Jul, 2024 | 5 Min. read
Top 5 Power Companies in India: Best by Fundamentals
05 Jul, 2024 | 6 Min. read
What is the Role that Margin Trading plays in leveraging investments?
05 Jul, 2024 | 10 Min. read
Top 7 Things to Consider for Successful Corporate Bond Investment
05 Jul, 2024 | 9 Min. read
What are the Most Popular Common IPO Terms Everyone Must Know?
05 Jul, 2024 | 2 Min. read
Analysis to Become a Pro Investor
28 Dec, 2023 | 4 Min. read
Women In Real Estate Investing (Investree)
28 Dec, 2023 | 5 Min. read
How To Check Prudent Corporate Advisory IPO Allotment Status
27 Dec, 2023 | 3 Min. read
How To Boost Credit Score? – Steps to Improve Creditworthiness
27 Dec, 2023 | 4 Min. read
Advantages and Disadvantages of Opening Multiple Demat Accounts
26 Dec, 2023 | 4 Min. read
7th CPC LTC: Leave Travel Concession Rules for Central Government Employees
26 Dec, 2023 | 4 Min. read
7th Pay Commission: House Building Advance (HBA) Interest Rate FY 2023-24
26 Dec, 2023 | 5 Min. read
The Future of Trading: Exploring Bajaj Broking’s Demat Features
26 Dec, 2023 | 6 Min. read
7th Central Pay Commission Cpc Fitment Table
23 Dec, 2023 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading