Triveni Turbine on Tuesday reported a 59.3 per cent growth in its consolidated net profit at ₹61 crore for the April-June quarter in FY24, aided by expanding international presence and growing aftermarket portfolio.
The industrial heat and power solutions provider’s consolidated revenue from operations rose 45.3 per cent y-o-y to ₹376 crore in Q1 FY24.
Commenting on the performance, Triveni Turbine CMD Dhruv M Sawhney said, “The momentum in revenue growth remained strong during the quarter with 45 per cent growth over the previous corresponding period. The company has made concerted efforts in the last few years to expand its international presence and enhance its aftermarket portfolio. These efforts continue to yield results and the same was witnessed during the quarter with EBITDA and profit after tax.”
The product demand remains robust, in both the domestic and global markets. The firm received orders from Europe, South East Asia, Africa and the Americas, he added.
According to the company, its order book stood at ₹453 crore during Q1 FY24, an increase of 26.6 per cent y-o-y. It’s carry forward order book stood at ₹1,405 crore as on June 30, 2023, an increase of 31.4 per cent y-o-y.
The investments, including cash, stood at ₹747 crore, an increase of 11.3 per cent from March 31, 2023.
With a formidable product and aftermarket portfolio, underlying demand drivers in place, continued focus of innovation and sustainability, amplifying people strength, digital transformation underway, the company is well poised to enhance its global market position in the years to come, he added.