Amid increased competition and a resultant dip in pricing power in the electrical equipment sector, Areva T&D India Ltd has reported a 19 per cent dip in net profits at Rs 26.26 crore for the quarter ended June 30, 2011. The company's quarterly revenues were up 12 per cent to Rs 998.86 crore.

Despite the challenges in the country's transmission and distribution sector (T&D) due to delays in customer projects, the company said it continues to maintain a strong outlook based on its success in the mid-size segment in the private sector and utilities market.

On the BSE, Areva T&D shares closed over 2 per cent in Monday's trade at Rs 234.80. The 52-week high for the stock was Rs 349.90 while the corresponding low was Rs 220.50.

Mr Rathin Basu, Managing Director of Areva T&D India Ltd, said: “The T&D market continues to be very challenging primarily due to delays in customer projects, which has resulted in falling market volume, increased competition and fall in prices. However, we continue to remain successful in the mid-size segment, winning orders both in private and utilities market. Thanks to our strong position in the high technology domain we have a good backlog.”

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