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GE T&D India shares soar 20% on smart Q1 earnings

LiveMint logoLiveMint 26-07-2017 PTI

New Delhi: Shares of GE T&D India Ltd Wednesday zoomed 20% after the company posted a net profit of Rs 61.6 crore for the first quarter ended 30 June 2017.

The scrip rose sharply by 19.99% to close at Rs 392.90—its 52-week high as also the highest trading permissible limit for the day—on BSE.

At NSE, shares of the company jumped 19.75% to end at Rs394. On the volume front, 4.92 lakh shares of the company were traded on BSE and over 27 lakh shares changed hands at NSE during the day.

The company had posted a net loss of Rs197.4 crore in the year-ago period, GE T&D India Ltd said in a BSE filing on Tuesday.

The company’s total income increased to Rs1,305.5 crore as compared to Rs 937.7 crore in the corresponding quarter of the previous fiscal.

GE T&D India is a leading player in the power transmission and distribution business with a product portfolio ranging from medium voltage to ultra high voltage (1,200 kV) for power generation, utility, industry and infrastructure markets.

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