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Ahmedabad-based transformer maker Transformers and Rectifiers India Ltd (TRIL) hit an upper circuit on the BSE on Friday after the company announced 128 per cent jump in the net profit for the fourth quarter ended March.
Company’s standalone net profit stood at ₹8.67 crore against ₹3.79 crore in the corresponding quarter the previous year, showing 128 per cent jump. Net income for the quarter was ₹289 crore, up 20 per cent from ₹240 crore in the previous year.
TRIL shares ended at ₹117.6 on the BSE, up close to 10 per cent from its previous closing. However, company’s annual performance was shadowed by the weaker initial three quarters of the fiscal 2013-14. The standalone net profit for the fiscal stood at ₹4.80 crore against ₹4.74 crore in the previous fiscal, showing a marginal growth of 1.2 per cent. The net income for the fiscal increased by 41 per cent from ₹502 crore to ₹708 crore.
“Decision-making in the Government was slow in previous quarters. This had stalled several crucial projects. Lot of power projects are still waiting for commissioning for want of gas. But last quarter was better for us as things on distribution front started improving,” Jitendra Mamtora, Chairman and Managing Director of the company told Business Line .
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