GE Power India Sept-qtr net down 20% to Rs 5.25 cr
The company's net profit in the quarter ended September 30, 2017 stood at Rs 6.56 crore
November 14, 2018 / 05:17 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies. Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)
GE Power India said its standalone net profit fell around 20 percent to Rs 5.25 crore in the quarter ended September 30 due to higher expenses, including borrowing cost.
The company's net profit in the quarter ended September 30, 2017 stood at Rs 6.56 crore, it said in a BSE filing.
Total income of the company in the quarter rose to Rs 589.83 crore from 296.38 crore a year ago. The total expenses also increased to Rs 507.27 crore from Rs 283.61 crore.
Considering the current market situation, the power generating company had instituted a Voluntary Retirement Scheme (VRS) for its workmen at the Maneja (Vadodara) factory in August 2018, which was opted for by most workers. Consequently, considering viability, the plant operations were ceased from August 27, 2018, it said.