Alstom T and D India sales up 4.4pc in Q3
New Delhi, Feb 1 (IBNS) Alstom T and D India Limited, a market leader in the Indian power transmission sector, has announced its financial results for the third quarter of the year and first nine months of 2012-13, following approval by the company's Board of Directors.
For the quarter ending 31st December, 2012, Alstom T and D India again achieved strong growth in orders, up 78pc over the same quarter of the previous year, leading to a backlog of Rs. 6,646 Crores, up 53pc , against December 2011.
Sales increased by 4.4pc to Rs.711 Crores over the same quarter last year. Operating Profit for the quarter reached 4.6pc , compared to 1.4pc in the second quarter of 2012-13.
Despite a healthy backlog, sales were flat at Rs. 2,063 Crores over the first nine months of 2012/13, largely affected by customer-related project delays, due to several issues, including difficulties in land procurement, fuel shortages and project clearances.
Over the first nine months, Operating Profit reached 4.3pc compared to 8.6pc achieved last year, due to low market prices and provisioning for some customers, due to their perceived weak financial position.
During the quarter, Alstom T and D India won a number of significant orders from Power Grid such as the Fixed Series Compensation package at the Wardha 400 kV substation, 765 kV Reactors for the Padghe, Aurangabad, Bhiwani, Meerut and NRSS Load Dispatch System in the Southern Region, a bulk 765 kV circuit breaker package and the 220 kV air-insulated substation at Myanmar. In addition, Alstom T and D India also won a major 400 kV gas-insulated substation package for UP BOOT and another order from Bajaj Hindustan for a large e-BoP package for the 3x660 MW Lalitpur power project.
During the same quarter, Alstom T and D India commissioned several major projects including 765 kV substations, e-BoP project for GMR's Warora power plant and the 400 kV substations for the Jindal power plant at Tamnar.
Alstom T and D India also unveiled the world's first 1200 kV double knee type disconnector at Padappai, Tamil Nadu, for Power Grid Corporation India Limited (PGCIL).
Commenting on the results, Rathin Basu, Managing Director, Alstom T and D India, said: "Thanks to our wide portfolio of products and solutions offerings, Alstom T and D India has successfully mitigated adverse market conditions by winning significant orders from a wide selection of customers.
"Despite the difficult economic environment, we have maintained good performance and order backlog, owing to our leadership position in the segment and our customers' confidence earned through satisfactory delivery of our commitments."