Triveni Turbine surges nearly 17% on strong growth in December quarter [Video]

Triveni Turbine shares surged nearly 17% on Tuesday after the company reported a double digit growth in revenue and net profit for the quarter ending December 31, 2023.

Triveni Turbine’s net profit increased 29.7% on a year-on-year (YoY) basis to ₹68.2 crore in the third quarter of the ongoing financial year (Q3FY24), compared to ₹52.6 crore witnessed in the same period a year ago. For the nine-month ending December 2023, the company’s profit after tax (PAT) grew 41% to ₹193 crore from the previous year.

The company reported its highest-ever earnings before interest, taxes, depreciation and amortisation (EBITDA) of ₹274 crore for the nine months ended December 2023, rising 39% from the previous year.

At the same time, its EBITDA of ₹83.7 crore in the December 2023 quarter was 31.4% higher than ₹63.7 crore observed in the same period in the preceding financial year.

The company’s revenue in Q3FY24 grew …