Transformers and Rectifiers today reported a 97 percent drop in its standalone net profit at Rs 0.29 crore in the quarter ended March 31, 2017.
The company had posted a net profit of Rs 10.74 crore in the year-ago quarter, Transformers and Rectifiers said in a BSE filing today.
Its total income during the fourth quarter fell to Rs 191.96 crore from Rs 249.70 crore in the year ago period.
In 2016-17, the firm's standalone net profit was at Rs 13.03 crore as against a loss of Rs 8.53 crore in the previous financial year.
Total income of the company rose to Rs 808.92 crore from Rs 581.41 crore in the preceding fiscal. The order book of 30,235 MVA valued Rs 962 core as on April 30, 2017, it said.
The company also said its board today approved an investment of Rs 17.02 lakh in Jingkeparth Electrical Equipments Private Ltd towards 60 percent stake in Joint Venture with Jiangsu Jingke Smart Electrical Co Ltd China.
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