GE Vernova bags ₹500-crore bulk orders from Power Grid

GE Vernova T&D India Ltd on Tuesday (March 4) said it has received three orders worth approximately ₹500 crore from Power Grid Corporation of India Ltd for the supply and installation of 765kV class transformers and reactors under bulk procurement.”We would like to inform you that GE Vernova T&D India Limited (‘the Company’) has received an order from Power Grid Corporation of India Limited,” GE Vernova T&D India said in a regulatory filing. The orders, which involve transformers and reactors of various capacities, are to be executed within 36 months.

Upbeat Q3

GE Vernova T&D India reported an 189% year-on-year (YoY) jump in net profit at ₹142.7 crore for the third quarter that ended on December 31, 2024, over ₹49.3 crore in Q3FY24. The CNBC-TV18 poll had predicted a profit of ₹134 crore for the quarter under review.Also Read: GE Power secures ₹273.5-crore additional contract for Greenko’s Saundatti hydro projectRevenue from operations increased 27.8% to ₹1,073.7 crore against ₹840 crore in the year-ago period. The CNBC-TV18 poll had predicted revenue of ₹1,157 crore for the quarter under review.

The company’s EBITDA jumped 84.1% to ₹179.7 crore in the third quarter of this fiscal year over ₹96.5 crore YoY. The CNBC-TV18 poll had predicted an EBITDA of ₹193 crore for the quarter under review.

The EBITDA (earnings before interest, tax, depreciation, and amortisation) margin stood at 16.7% in the reporting quarter compared to 11.5% in the year-ago quarter. The CNBC-TV18 poll had predicted a margin of 16.7% for the quarter under review.

Also Read: Azad Engineering wins ₹960-crore contract from US-based GE Vernova

Shares of GE Vernova T&D India Ltd ended at ₹1,360, up by ₹52.50, or 4.02%, on the BSE.