GE T&D’s PAT up by 5%

Order bookings were INR 10.8 billion, up 123%

Sandeep Zanzaria, Managing Director & CEO of GE T&D India

FinTech BizNews Service   

November 08, 2023 — GE T&D India Limited, reported on November 08, 2023 its unaudited financial results for the second quarter ended 30 September 2023. For the second quarter (1 July 2023 - 30 September 2023) 

• Revenue was INR 7.0 billion almost same as compared to INR 7.0 billion in Quarter Ended (QE) September 2022 
• Operating Profit at INR 571.7 million (8.2%), against operating profit of INR 197.8 million (2.8%) in QE September 2022 
• Profit After Tax at INR 371.7 million (5.3%), against net profit of INR 27.6 million (0.4%) in QE September 2022 
• Order bookings were INR 10.8 billion up 123% compared to INR 4.9 billion in QE September 2022 Key Wins in Q2, Financial Year 2023-24 
• Product package order of 400 kV switchyard equipment comprising of 400 kV/220 kV Power Transformers, Shunt Reactors, Circuit Breakers, and Instrument Transformers from a Global Engineering, Procurement, and Construction (EPC) Company. 
• Construction of 765/400 kV Gas Insulated Substation (GIS) at Narendra & 765 kV Bay Extension at Pune including civil works from Adani Energy Solutions. 
• Turnkey order of 220 kV GIS from Tata Motors for its commercial vehicle plant in Pimpri manufacturing Electric Vehicles (EV) and hybrid cars.
• Product package order of 765 kV Live Tank Circuit Breakers, 765 kV Current Transformers, 765 kV Capacitive Voltage Transformers from a leading EPC company in India. The equipment will be installed in a 765 kV substation at Kurnool, a major Renewable Energy Zone (REZ) in Andhra Pradesh.
• Product package order of 400 kV/220 kV 3 Phase Auto Transformer and 400, 220 kV Gas Insulated Switchgear from a leading EPC Company in infrastructure. 
• Turnkey contract for 8 bays of 400 kV substation for Power System Scheme-4 (PSS-4) & 1 bay extension at Power Grid Corporation of India Limited (PGCIL) substation at Sholapur, Maharashtra. 
• Turnkey contract for upgradation of existing 66/33 kV Tuensang Substation to 132 kV level Gas Insulated Substation (GIS) including supply of 132/33 kV, 1-phase Power Transformers. 
• Advanced Distribution Management System (ADMS) Software package for Madhya Gujarat Vij Company Limited (MGVCL) (Gujarat Distribution Company) under Remote Data Synchronization System (RDSS) package from a leading EPC Company. 
• Automation package order for 15 Distribution Sub-Stations in Nepal Electricity Authority (NEA), Nepal. 
• Upgradation of bus bar schemes in 15 substations of 400, 220 & 132 kV at Northern Region Transmission System II & III from Power Grid Corporation of India Limited (PGCIL) Operational Highlights of Q2, Financial Year 2023-24 
• Commissioning of 765 kV Chilakaluripeta and Warangal Air Insulated Substation including 24 Reactors and 7 numbers of 765 kV, 500 MVA Interconnected Transformers (ICTs). 
• Commissioning of 220 kV Gas Insulated Substation at Sahupuri for Uttar Pradesh Power Transmission Corporation Limited (UPPTCL) · Commissioning of 20 bays of 110 kV Gas Insulated Substation (GIS) at Shornur for Kerala State Electricity Board (KSEB).

 Sandeep Zanzaria, Managing Director & CEO of GE T&D India Limited, said, “We witnessed a continued surge in the order book in Q2, driven by India’s energy transition needs and government's focus on renewable energy schemes. We are also pleased to report a notable improvement in profit in the second quarter along with a significant reduction in net debt. The accomplishments of this quarter not only highlight our expertise but also showcase our ability to provide innovative solutions that meet the evolving demands of India's energy landscape.” About GE T&D India Limited With over 100 years of presence in India, GE T&D India is a leading player in the Power Transmission & Distribution business - A product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.