GE T&D India posts 26 pc fall in Q4 sales at Rs 660 crore

New Delhi [India], July 2 (ANI): GE T&D India Ltd on Thursday reported 26 per cent fall in its sales revenue in the quarter ended March at Rs 660 crore as compared to Rs 890 crore in Q4 FY19.
The operating loss was Rs 219 crore against an operating profit of Rs 63 crore in the same period. The loss after tax totalled Rs 187 crore against Rs 26 crore.
Order bookings were down 32 per cent at Rs 660 crore in Q4 FY20 as compared to Rs 970 crore in Q4 FY19.
India’s power market, as well as its operating environment, continued to be challenging in the financial year 2019-20, said Managing Director and CEO Pitamber Shivnani.
“But the company successfully achieved a balanced portfolio of orders, resulting in sustained market leadership and improved overall performance. As of March-end, we are well-positioned with an order backlog of over Rs 5,890 crore.
Shivnani said the Indian energy landscape is currently undergoing a significant positive transformation.
“As a leader in the innovation of modern grid solutions, we will continue to work closely with the government and our customers to implement solutions that will help India accelerate in its energy transition journey,” he said in a statement.
With over 100 years of presence in India, GE T&D India is a leading player in the power transmission and distribution business with a product portfolio ranging from medium voltage to ultra-high voltage (1,200 kV) for power generation, transmission and distribution, industry and infrastructure markets. (ANI)