Triveni Turbine shares surged nearly 17% on Tuesday after the company reported a double digit growth in revenue and net profit for the quarter ending December 31, 2023.
Triveni Turbine’s net profit increased 29.7% on a year-on-year (YoY) basis to ₹68.2 crore in the third quarter of the ongoing financial year (Q3FY24), compared to ₹52.6 crore witnessed in the same period a year ago. For the nine-month ending December 2023, the company’s profit after tax (PAT) grew 41% to ₹193 crore from the previous year.
The company reported its highest-ever earnings before interest, taxes, depreciation and amortisation (EBITDA) of ₹274 crore for the nine months ended December 2023, rising 39% from the previous year.
At the same time, its EBITDA of ₹83.7 crore in the December 2023 quarter was 31.4% higher than ₹63.7 crore observed in the same period in the preceding financial year.
The company’s revenue in Q3FY24 grew 32.5% to ₹431.7 crore compared to ₹325.8 crore in the corresponding quarter a year ago. For the nine-month period between April and December 2023, revenue increased 36% to ₹1,196 crore from the previous year.
Triveni Turbine’s margin remained almost unchanged at 19.4% in the December quarter compared to 19.6% in the year-ago period. Its quarterly order booking exceeded ₹500 crore mark in the quarter, up 26% on a year-on-year basis.
Shares of the company were trading 13.9% higher at ₹404.65 per piece on BSE at 11:22am.
