GE T&D India Q1 Results Revenue Surges to ₹958.34 Crores

GE T&D India Q1 Results: GE T&D India's Q1 results for June 2024 show a strong year-over-year (YoY) and quarter-on-quarter (QoQ) improvement in several key financial areas. The total revenue for June 2024 was ₹958.34 crores, significantly higher than ₹717.57 crores in June 2023, which reflects a solid YoY growth. It also increased from ₹703.05 crores in March 2023, showing an impressive QoQ improvement.

GE T&D India’s Selling, General, and Administrative (SG&A) expenses rose to ₹90.19 crores, higher than ₹86.32 crores in June 2023 (YoY comparison) and ₹76.45 crores in March 2023 (QoQ comparison). This increase in costs was likely linked to higher business activities.

GE T&D India’s Depreciation expenses were ₹12.07 crores in June 2024, a slight drop from ₹12.84 crores in June 2023 (YoY comparison) and down from ₹14.56 crores in March 2023 (QoQ comparison).

GE T&D India’s Other operating expenses also increased year-over-year from ₹90.30 crores in June 2023 to ₹113.76 crores in June 2024. The total operating expenses increased to ₹788.20 crores from ₹679.59 crores YoY, showing the rising costs.

GE T&D India’s operating income grew significantly YoY from ₹37.98 crores to ₹170.14 crores. Net income also jumped YoY from ₹28.24 crores to ₹134.54 crores, showing the company's stronger performance.

Here is the GE T&D India Q1 results data in table format:

(Rs. in crore, except the shares)

Source: Here 

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GE T&D India Q1 Results

GE T&D India table shows the financial results for the quarter ending on June 30, 2024. It compares the company's performance in this quarter with previous periods, like the quarter ending March 31, 2024, and the same quarter last year (June 30, 2023).

GE T&D India made ₹9,583.4 million in revenue from operations, which is more than last year’s ₹7,175.7 million. This means the company is growing its sales. They also earned some extra money from other sources, which brought their total income to ₹9,701.4 million for the quarter.

GE T&D India’s expenses, like buying raw materials and paying employees, totaled ₹7,902.3 million. These expenses have gone up a bit compared to last year, but the company still managed to make a good profit. After subtracting all costs, GE T&D India earned a profit before tax of ₹1,799.1 million.

GE T&D India had to pay ₹453.7 million in taxes, so their final net profit for the quarter was ₹1,345.4 million. This is much higher than the ₹282.4 million they earned in the same period last year, showing strong growth. The earnings per share (EPS) also increased to ₹5.25, meaning each share earned more profit. Overall, the company is performing well and growing steadily.

Here’s a simplified summary of the unaudited financial results for GE-TD India for the quarter ended June 30, 2024:

(in ₹ million):

GE T&D India Financial Metrics

GE T&D India has a market capitalization of ₹ 42,529 crore, which reflects the total value of its shares in the stock market. The current share price is ₹ 1,661, while the highest price in the past year was ₹ 1,890, and the lowest was ₹ 346. The stock's Price-to-Earnings (P/E) ratio is high at 148, meaning the stock might be expensive compared to its earnings. The company’s book value is ₹ 48.5, which indicates the value of its assets. 

Here is a breakdown of the information provided:

Quarterly Results 

In the quarters of December 2023, March 2024, and June 2024, GE T&D India showed strong financial performance. Sales increased from Rs. 839 crores in December to Rs. 958 crores in June, indicating good demand for their products. Expenses also rose but at a manageable level, allowing operating profit to grow from Rs. 97 crores to Rs. 182 crores. The operating profit margin (OPM) improved, reaching 19% by June 2024, which means the company was earning more from its sales compared to its costs. 

Here’s the table focusing only on the quarters of December 2023, March 2024, and June 2024, along with the particulars:

(Standalone Figures in Rs. Crores)

About GE T&D India 

GE T&D India is a major company in the power transmission and distribution industry, part of General Electric's Grid Solutions business. With over 100 years of experience in India, GE T&D India offers a wide range of products and solutions to help move electricity from generation sources to the power grid.

GE T&D India provides essential equipment, including power transformers, circuit breakers, and gas-insulated switchgears, designed for different voltage levels, from medium to ultra-high voltage (up to 1200 kV). It operates five manufacturing sites in India, ensuring it can meet the growing demand for grid equipment and services.