Alstom T&D India today reported a net profit of Rs 15.04 crore for the three months ended June, 30, 2013 against its net profit of Rs 23 crore in the April-June period in 2012—13.
Total income from operations declined to Rs 585.75 crore during the quarter, from Rs 675.52 crore in the year-ago period, according to a regulatory filing.
The total income figure includes Rs 19.75 crore “being the liability no longer payable, towards trade mark of an earlier year written back”, it added.
The company is engaged in the business related to products, projects and systems for electricity transmission.
Meanwhile, Alstom T&D is yet to comply with Sebi norms of having at least 25 per cent minimum public shareholding.
To comply with the rules, promoters of the company have suggested the option of Institutional Placement Programme. “The board upon firming up the matter, at a later date, would take necessary steps,” the filing said.
At the end of June quarter, promoters held 80.31 per cent stake in Alstom T&D.
Shares of the company declined nearly two per cent to close at Rs 150.85 on the BSE.