Triveni Turbine's shares rose over 8 percent to hit a 52-week high of Rs 654.40 after the company posted strong earnings for the quarter that ended March.
At 12.52 pm, Triveni Turbine's shares traded 3.5 percent higher at Rs 626.55.
In the past six months, Triveni Turbine has gained 54 percent, outperforming Nifty 50 which gained 14 percent during the same period. May 17 marked the sixth session of gain of Triveni Turbine.
The company reported Q4 results on May 16 with consolidated net profit up 37 percent on year to Rs 76.2 crore in January-March. The revenue from operations for the March quarter grew 24 percent on year to Rs 458.1 crore.
The turbine manufacturer's earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 35.7 percent on year to Rs 106.9 crore.
The EBITDA margin of Triveni Turbine rose to 23.3 percent from 21.3 percent in the year ago period.
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Triveni Turbine recorded its highest-ever annual order booking of Rs 1,878 crore during FY24, an increase of 17 percent year-on-year. The company's carry forward order book as of March 31, 2024 was 1,553 crore, an increase of 17 percent on year.
The company also announced a final dividend of Rs 1.3 per share.
"Despite the slowdown experienced in certain advanced economies, the expanding presence in global markets, along with rising demands for renewable energy, energy efficiency, the waste-to-energy (WtE), and decentralized power solutions segment, continue to present substantial growth opportunities for Triveni Turbines," said Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine.
"The Company is confident that leveraging these opportunities, both domestically and internationally, will enable Triveni Turbines to maintain growth and profitability in the forthcoming years," Sawhney said in a press release.
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