The Hindu Business Line : Triveni Engg net up 32%

Triveni Engineering & Industries Ltd (TEIL) engaged in the manufacturing of sugar and engineered-to-order mechanical equipment, such as steam turbines, high-speed gears and water and wastewater treatment equipment, has reported a 32-per-cent increase in net profit after tax (PAT) at Rs 39.8 crore for the fourth quarter of the financial year 2005-06.

During the fourth quarter of the fiscal, TEIL recorded a revenue of Rs 341.9 crore. For the full financial year ended March 31, 2006 the company reported a 24-per-cent growth in net revenue at Rs 1,192 crore as against Rs 961 crore in the previous financial year. Net PAT during the year increased by 32 per cent to Rs 131.5 crore as compared with Rs 99.5 crore in the previous financial year.

The net revenue of consolidated Triveni Group for 2005-06 stood at Rs 1,192 crore (Rs 964.9 crore). The consolidated earn per share (EPS) has grown by 45 per cent to Rs 6.92, the company said.

Explaining the improvement in operational performance, Mr Dhruv M. Sawhney, Chairman and Managing Director, TEIL, said, "The growth in the turnover and profits of our engineering divisions, mainly turbines, is phenomenal and we expect to take this momentum forward by expanding our range and to have significant proportion of our turnover through exports."