Triveni Turbine's Q1 consolidated net profit falls 11%

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SME Times News Bureau | 06 Aug, 2020
Triveni Turbine Ltd on Wednesday reported an 11.23 per cent fall in its consolidated net profit for the April-June quarter, at Rs 27.25 crore.

During the corresponding period of last fiscal, the company had reported a net profit of Rs 30.70 crore.

Its total income for the period under review fell 21.62 per cent to Rs 169.85 crore.

Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbine, said: "The Covid-19 pandemic has impacted the global economies and industries in a severe way. Q1 FY21 has been a difficult quarter due to the restriction of travel and movement of raw materials, finished goods etc, which impacted both revenue and order booking."

He noted that most of the quarter under review got impacted, due to lockdown both in the domestic market and most of the global markets.

"TTL's performance was also impacted, but we feel the impact in our business was contained to a great extent by proactive actions taken by the company -in terms of order booking, revenue and profitability," Sawhney said.