As a 20-year GE veteran, Palashikar has handled assignments in manufacturing operations, global supply chain, quality, lean six sigma, sales, projects and services within GE's Healthcare, Power and Renewable Energy businesses.
The company is taking all precautions, safety and social distancing measures and implementing all applicable guidelines issued by the authorities across its operations and offices for prevention and containment of COVID-19, a BSE filing added.
"We would like to notify that, the company has exercised its right to terminate the aforesaid contract due to prolonged suspension of work by NECL without any virtual certainty of resumption of work in near future," it said.
The company had clocked Rs 40.4 crore profit in the same quarter a year ago, GE Power India said in a BSE filing.
The company in its exchange release said the contract is for design, engineering, civil work, supply, erection and commissioning of wet FGD (Flue Gas Desulphurisation) systems along with auxiliaries like limestone and gypsum handling system and wet stack on full turnkey basis.
Aravali Power Company is a joint venture company of NTPC Ltd, Haryana Power Generation Company Ltd and Indraprastha Power Generation Company Ltd.
Total income increased to Rs 400.73 crore in March quarter compared to Rs 382.68 crore a year ago.
Total income rose to Rs 577.46 crore in the latest quarter from Rs 410.59 crore in October-December 2017.
GE Power India will be responsible for the design, manufacture and supply of the main electro-mechanical equipment.
The company's net profit in the quarter ended September 30, 2017 stood at Rs 6.56 crore
The four power plant projects are Solapur Super Thermal Power Project - 2x660 MW, Tanda Super Thermal Power Project Stage II - 2x660 MW, Feroze Gandhi Unchahar Thermal Power Project -1x500 MW and Meja Thermal Power Project - 2x660 MW, by Meja Urja Nigam Private Ltd (a JV of NTPC and UPRVUNL).
According to the filing, its total income rose to Rs 467.32 crore in the quarter from Rs 388.39 crore year ago.
As part of the order, GE Power will supply pressure parts equipment for the Patratu project at an order value of USD 52 million and to Udangudi thermal power projects at a value of USD 20.4 million, for onshore supply.
As the market already corrected in the last two months with a price damage of around 10 percent the incentives for bears after Friday’s gap down opening appears to be little.
"GE Power India Limited... has been awarded a contract worth approximately Rs 230 crores inclusive of taxes (i.e. approximately USD 35.4 million) by NTPC Ltd for Barh stage -I ," GE Power India said in a statement.
This is the first standalone Flue Gas Desulphurisation (FGD) order for GE in the country since the notification of new emission norms for thermal power plants by the Ministry of Environment, Forests & Climate Change (MoEF & CC) in December 2015, a GE Power statement said.