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Alstom T&D India’s net profit for the fiscal 2014-15 third quarter has fallen 86 per cent to ₹ 2.58 crore due to a tough business environment. The net profit in the same quarter last year was ₹ 18.9 crore.
The drop in net profit came despite a 30 per cent increase year-on-year for its order backlog to ₹ 8,400 crore. Orders worth ₹ 1,177.30 crore were added during the third quarter
The company’s net revenue also fell around 10 per cent year-on-year to ₹ 766.09 crore during the quarter. In the same quarter last year, the revenue was ₹ 848.32 crore.
Commenting on the results, Rathin Basu, Managing Director, Alstom T&D India said, “Though there is positive sentiment in the industry, market continues to be challenging.”
On Thursday, Alstom T&D India’s shares closed 9.39 per cent lower on the BSE at ₹ 490.35.
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