Techno Electric and Engineering Company Ltd (TEECL), one of the leading EPC Company in the country focused on power sector, reported its financial performance for the quarter and nine months ended December 31st, 2011.
Consolidated Net Sales of the Company rose 11.18% to Rs 169.71 crore as against Rs 152.65 crore in Q3FY11. EBIDTA increased from Rs 37.25 crore to Rs 52.2 crore while EBIDTA margin for the quarter stood at 30.76% against 24.4% in Q3FY11, the increase due to incremental wind capacity. TEECL reported Profit After Tax of Rs 23.02 crore, as against Rs 23.61 crore in the same quarter of last financial year.
For the nine months ended December 31st, 2011, Net Sales stood at Rs 601.59 crore against Rs 518.76 crore, a 15.97% gain over the corresponding period of last fiscal. EBIDTA increased from Rs 134.69 crore to Rs 190.11 crore while EBIDTA margin for the period stood at 31.6% against 25.96%. Profit After Tax for the period, at Rs 106.13 crore, was 14.25% higher compared to Rs 92.89 crore reported in the last corresponding period.
Commenting on the results, Mr. P.P. Gupta, Managing Director, TEECL, said, “All our business segments have given satisfactory results for the quarter and we remain committed to sustained growth going forward. With a healthy order book, increased wind capacity and completion of our transmission project, we are confident of closing the year on a positive note.”
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