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GE Power India Ltd Q1FY22 consolidated loss at Rs. 114.99 crores
Posted On : 2021-08-11 22:36:58( TIMEZONE : IST )
GE Power India Limited has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY 2021-22) - QoQ Comparison
The company has reported total income of Rs.551.20 crores during the period ended June 30, 2021 as compared to Rs.938.15 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.(114.99) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.16.02 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.(17.10) for the period ended June 30, 2021 as compared to Rs.2.38 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 551.20 crs | ₹ 938.15 crs |  -41.25% |
| Net Profit | ₹ (114.99) crs | ₹ 16.02 crs | -817.79% |
| EPS | ₹ (17.10) | ₹ 2.38 | -818.49% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.551.20 crores during the period ended June 30, 2021 as compared to Rs.446.42 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.(114.99) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(18.02) crores for the period ended June 30, 2020.
The company has reported EPS of Rs.(17.10) for the period ended June 30, 2021 as compared to Rs.(2.68) for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 551.20 crs | ₹ 446.42 crs |  23.47% |
| Net Profit | ₹ (114.99) crs | ₹ (18.02) crs |  538.12% |
| EPS | ₹ (17.10) | ₹ (2.68) | 538.06% |
Prashant Jain, Managing Director, GE Power India Limited said, "After 10 years on being hold, we have received go ahead from the customer on the execution of our hydro Subansiri project which had a significant margin impact for the quarter. The Company also faced cost challenges in project execution for ESP and FGD projects due to commodity price rise, BOQ variations and liquidity issues with the subcontractors which were further aggravated due to COVID-19 and exodus of workforce from sites. We are working aggressively to ramp up the site operations and reduce the lead time in project execution and mitigate the margin impact.
On the upside, our services growth strategy is on the right track and this quarter we have booked around 147% higher orders compared to Q1 last financial year due to some exceptional upgrade orders on oOEM fleet. We will continue to focus on emissions and services business aligned with the market dynamics while executing our backlog of INR 51,086 million."
Shares of GE Power India Limited was last trading in BSE at Rs. 316.65 as compared to the previous close of Rs. 323.35. The total number of shares traded during the day was 23764 in over 1379 trades.
The stock hit an intraday high of Rs. 323.15 and intraday low of 313.15. The net turnover during the day was Rs. 7542506.
