GE T&D India Reports INR 9.6 Bn Revenue and INR 1,345 Mn Profit for Q1 FY 2024-25

GE T&D India Ltd. has witnessed a remarkable performance for the first quarter of FY 2024-25, showcasing substantial growth across key financial metrics. 

The firm informed in its note that for the quarter ending June 30, 2024, the company achieved a revenue of INR 9.6 billion, marking a notable 34.0 percent increase compared to INR 7.2 billion in the same period last year. The company's EBITDA surged to INR 1,940 million, reflecting a 20.2 percent margin, up significantly from 8.7 percent in the previous year. Profit After Tax (PAT) also saw a substantial rise to INR 1,345 million, with a margin of 14.0 percent, up from 3.9 percent a year ago.

Additionally, GE T&D India secured order bookings worth INR 10.3 billion, representing 2 percent growth year- on- year. In a series of key wins during the quarter, GE T&D India secured significant contracts from Power Grid Corporation of India Ltd. (PGCIL) and Adani Energy Solutions for high-voltage projects, including 765 kV Shunt Reactors and GIS Bay Extensions.

The firm further noted that the company also won orders for substation renovations and modernizations in West Bengal and Nepal. Among the operational highlights, GE T&D India successfully commissioned a 500 MVA, 765 kV transformer at Powergrid Rampur and completed the installation of 400 KV line bays for UPPTCL at Sahupuri.

Notable completions also include two 220kV GIS Bays at Hinjewadi for MSETCL and Nxtra Data Centre in Pune, as well as 220kV GIS substations for WBSETCL in Kolkata and MTPS DVC in Khatiala, West Bengal. Internationally, GE T&D India installed a 90kV GIS substation at Cap des Biches for Calik A/c Senalec in Senegal and a 66kV GIS substation at Keonics for KPTCL in Bangalore. Additionally, the retrofit of 420kV SF6 AIS Circuit Breakers at NTPC Ramagundam in Andhra Pradesh was completed.

Sandeep Zanzaria, Managing Director & CEO of GE T&D India Limited, said, “Our exceptional quarterly results are a direct outcome of our unwavering focus on delivering quality and value to our customers and stakeholders. As India's power grid scales new heights with its power transmission system emerging as one of the largest unified electricity grids in the world, we are excited to be a key partner in this journey of India’s energy transition.”