In Thursday’s trading session, the shares of a leading player in the power transmission and distribution business hit a 5% upper circuit at Rs. 1,648.9, after reporting financial results for Q1 FY24-25 with a rise in the net profit by 103 percent QoQ and 376.4 percent YoY.
With a market capitalisation of Rs. 42,219.5 crore, the shares of GE T&D India Limited opened at Rs. 1,648.9, as against its previous closing price of Rs. 1,570.4.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Wednesday post-market hours.
The revenue from operations for Q1 FY24-25 stood at Rs. 958.3 crores, marking a 34 percent YoY rise from Rs. 717.6 crores in Q1 FY23-24, as well as a 5 percent growth quarter-on-quarter from Rs. 913.6 crores in Q4 FY23-24.
The net profit jumped by 376.4 percent YoY to Rs. 134.5 crores in Q1 FY24-25, as against Rs. 28.3 crores in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 103 percent from Rs. 66.3 crores in Q4 FY23-24.
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During Q1 FY24-25, the company’s order bookings stood at Rs. 1,030 crores, against Rs. 1,010 crores in the quarter ended June 2023, indicating a growth of 2 percent YoY.
As of June 2024, GE T&D India has an order backlog of Rs. 6,280 crores, up by 59.4 percent YoY, as compared to Rs. 3,940 crores as of June 2023.
Stock Performance
The shares of GE T&D India Limited have delivered multibagger returns of nearly 560.7 percent in one year, as well as around 212 percent returns year-to-date.
About the Company:
Incorporated in 1957, GE T&D India Limited offers products ranging from medium voltage to ultra-high voltage (1200 kV) for the power generation, transmission and distribution (T&D) industry.
The company offers a wide range of “Made in India” products and related services that include power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, digital software solutions, turnkey solutions for substation engineering and construction, high voltage DC, maintenance support and more.
Written by Shivani Singh
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