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HBL Power Systems Ltd has posted a big jump in the net profit at Rs 14.55 crore for the third quarter ended December 31, 2014 against Rs 3 crore in the corresponding quarter last year.
Income from operations during the quarter under review was down at Rs 321.84 crore against Rs 345.29 crore for the same period last year.
For the first nine months ended December 31, 2014, the company posted a lower net profit of Rs 5.92 crore and income of Rs 985.05 crore against a net profit of Rs 62.43 crore and income of Rs 960.63 crore in the same period last year.
During the third quarter, the company's unit was impacted by the Hudhud cyclone near Vizag and claims have been made with an insurance company.
During the nine-month period, exceptional item represents net loss of assets of Rs 4.63 crore and Rs 5.7 crore on account of stocks and repairs incurred consequent to the cyclone. It has included Rs 5.7 crore in other income.
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