Transformers and Rectifiers India shares hit record high on over 300% YoY rise in Q4 PAT

Shares of Transformers and Rectifiers (India) Limited stocks were locked in a 5% upper circuit limit of ₹498.2 apiece on the NSE on Tuesday, April 9, after the company reported multi-fold growth in consolidated net profit for the March quarter (Q4FY24).

In its financial results released for the quarter and the full financial year ending March 31, 2024, on Tuesday, the company reported 333.5% growth year-on-year in its consolidated net profit. The company’s profit after tax in Q4FY24 increased to ₹41.62 core compared to ₹9.6 crore in the year ago quarter.

Sequentially the company’s profit after tax (PAT) increased 164.75% compared to ₹15.72 crore in Q3FY24.

Transformers and Rectifiers India’s consolidated revenue stood at ₹514 crore in March quarter as against ₹439.5 crore in the year-ago period. On a quarter on quarter basis consolidated revenue increased 38.5% compared to ₹371.2 crore in the December quarter.

For the full financial year 2023-24, the company’s revenue declined by 7.5% to ₹1,300.5 crore as against ₹1,404.66 crore in FY23. The company net profit in FY24 stood at ₹47.01 crore compared to ₹42.35 crore in the preceding financial year.

The company’s revenue from operations stood at ₹512.7 crore in March quarter compared to ₹438.5 crore in the corresponding quarter a year ago.

The company’s standalone revenue in Q4FY24 increased 36.6% quarter-on-quarter to ₹502.58 crore against ₹367.8 crore in the December quarter. The company’s standalone revenue increased 17.33% compared to ₹428.34 in the year ago quarter.

Its standalone net profit stood at ₹35.65 crore in Q4FY24, up 304% YoY compared to ₹ 8.82 crore in Q4FY23.

Transformers and Rectifiers (India) Limited is engaged in the manufacturing and sale of various types of transformers, including power and distribution transformers, furnace transformers, rectifier transformers.