GE Vernova T&D India Doubles Profit Amid India's Grid Modernization

GE Vernova T&D India announced a remarkable more than twofold increase in net profit, reaching Rs 291.2 crore for the June quarter. This growth in earnings was primarily fueled by enhanced revenues.

The company, part of GE Vernova's Electrification segment, noted that its net profit during the same quarter of the previous year stood at Rs 134.5 crore. Furthermore, its income surged to Rs 1,346.4 crore in Q1, compared to Rs 970.1 crore in the prior year, according to their exchange filing.

CEO Sandeep Zanzaria highlighted the driving force behind this growth: India's ongoing grid modernization aimed at improving reliability, integrating renewable energy, and meeting rising electricity demands. The company's focus remains on securing profitable orders with better margins to sustain its growth trajectory.

(With inputs from agencies.)