Areva T&D India reported a big surge in net profit at Rs 28.8 crore during the first quarter of the current fiscal, up from Rs 3.5 crore. Sales were up 28 per cent at Rs 991.40 crore during the quarter.
The company attributed the increase in both its topline and bottomline performance to “efficient execution, faster ramp-up of production in its new factories and the benefits of higher scale of operation.”
The company, in a statement, said it continued to maintain its leadership position in the ‘765 kV' segment by winning Power Grid Corporation's Vindhyachal 765 kV substation contract. Several new customers in different market segments were added during the quarter, it said.