TEECL net profit up 24 percent in Q1

July 18th, 2011 - 6:51 pm ICT by IANS  

Kolkata, July 18 (IANS) Techno Electric and Engineering Company Ltd (TEECL), a leading engineering, procurement and construction (EPC) company focused on the power sector, Monday reported a net profit of Rs.30.72 crore for the quarter ended June 30, 2011.

This represents an increase of 24.34 percent from the Rs.24.71 crore in the corresponding period last fiscal.

According to a company release here, TEECL posted Rs.189.71 crore as net sales for the first quarter of FY12 against Rs.159.31 crore in the previous corresponding quarter, an increase of 19.08 percent.

The EPC business of the company, accounting for Rs.85.18 percent of total revenue in the quarter, grew by 12.85 percent to Rs.161.6 crore, compared to Rs.143.20 crore in the first quarter of the last fiscal.

Commenting on the results, TEECL Managing Director P.P. Gupta said: “We have begun the fiscal with very encouraging numbers with significant growth in EPC as well as energy segments. With a healthy carry forward order book and growing focus on clean energy in India, we remain optimistic for coming quarters.”

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