Triveni Turbine gains 8% to hit 52-week high on strong Q4 earnings, 37% YoY rise in consolidated net profit

In its quarterly results for the three-month period and the full financial year 2023-24, released on Thursday, the company reported 37% year-on-year growth in consolidated net profit at ₹76.2 crore in the March quarter compared to ₹55.62 crore in the same period a year ago. On a quarter-on-quarter (QoQ) basis, the company’s profit after tax (PAT) grew 11.5% against ₹68.3 crore in the December quarter.

For the entire FY24, the company reported net profit of ₹269.49 crore against ₹192.87 crore in the preceding financial year.

The industrial equipment manufacturer’s revenue from operations for the March quarter increased by 23.9% to ₹458.05 crore, compared to ₹369.76 crore in the fourth quarter of the previous fiscal year. Sequentially, revenue from operations increased 6.1% compared to ₹431.7 crore in the December quarter.

Revenue from operations increased 32.6% to ₹1,653.94 crore for the financial year ended March 2024, up from ₹1,247.55 crore in the preceding financial year.

The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) of ₹106.9 crore in Q4FY24, compared to ₹78.8 crore in Q4FY23, reflecting a 35.7% rise year-on-year.

The company’s board also proposed a final dividend of 130% at ₹1.3 per equity share of a face value of ₹1 each for the financial year 2023-24.

This final dividend is in addition to the interim and special dividends of 230% (₹2.3 per equity share of ₹1 each) already declared and paid for the same financial year.

Shares of Triveni Turbine Ltd closed 4.07% higher at ₹629.7 apiece on the NSE.