Companies

Alstom T&D Q2 net profit at Rs 21 crore

Our Bureau New Delhi | Updated on November 01, 2013 Published on November 01, 2013

Alstom T&D India on Friday reported a net profit of Rs 20.80 crore during July-September 2013-14.

The subsidiary of France-based Alstom had a net loss of Rs 1.80 crore in the same quarter the previous year. It reported sales of Rs 802.2 crore in the second quarter.

“Last year in the second quarter, we have to create a provision of Rs 30 crore. However, during this fiscal year, we did better execution,” Rathin Basu, MD of the company, told Business Line.

The company has an order book of Rs 6,470 crore as on September 30, which is 6 per cent higher against the previous year.

Basu said that there are problems with cash collection in the power sector. The primary driver has to be the financial restructuring of the State electricity distribution companies (discoms). Once health of discoms improves they would pay the suppliers and power producers.

“We are secured for next 18 months for sales. The environment is still challenging and we are keeping a close look for new orders,” Basu added.

Also, Alstom inaugurated its Digital Substation Automation Competence Centre at its existing facility in Pallavaram in Chennai.

siddhartha.s@thehindu.co.in

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Published on November 01, 2013
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