GE Power India Limited, one of the leading energy players in India with strong capabilities in emissions control technologies and services portfolio reported its financial results for the second quarter ended 30 September 2024. The highlights of the results are given below:
For the Second Quarter (Jul – Sep 2024):
Total income for the quarter from continuing operations was INR 2,444.5 million down by 2.5%, compared to INR 2508.0 million in Quarter Ended (QE) 30 Sep 2023.
Profit/(Loss) before exceptional items from continuing operations for the quarter at INR 91.4 million, compared to INR (-) 359.4 million in Quarter Ended (QE) 30 Sep 2023.
EBIDTA (before interest and depreciation expense) for the Quarter from continuing operations Ended (QE) 30 Sep 2024 is 9.1%, compared to (-) 6.3% for the Quarter Ended (QE) 30 Sep 2023.
The Quarter Ended (QE) with Order backlog of INR 25,597 million up by 45.3% compared to INR 17,611 million in Quarter Ended (QE) 30 Sep 2023 of continuing operations.
Puneet Bhatla, Managing Director, GE Power India Limited said, “The second quarter of the financial year 2024-25 fared strongly for executing on our strategy with 2X growth specifically for Upgrade and Core Services as compared to the preceding year. GEPIL completed the sale and transfer of said Gas Power Business in accordance with the terms of the business transfer agreement entered into with the purchaser dated 15 July 2024. I am pleased to share that your Company received the Wanakbori Steam Turbine upgrade project from GSECL as well as the Boiler R&M project for the Vedanta, Jharsuguda power station. This is the fourth consecutive quarter with positive one-time impact (EBITDA) supported by claims.”
