Techno Electric PAT jumps 7.12%

(IBNS): Techno Electric and Engineering Company Ltd (TEECL), a leading EPC company in the country, on Monday reported its financial performance for the quarter and full year ended 31st March, 2012.

Consolidated Net Sales of the Company rose 10.96% to Rs 218.01 crore as against Rs 196.48 crore in Q4FY11.

EBIDTA increased from Rs 28.59 crore to Rs 34.22 crore while EBIDTA margin for the quarter stood at 15.7% against 14.55% in Q4FY11. TEECL reported Profit After Tax of Rs 14.64 crore, as against Rs 19.85 crore in the same quarter of last financial year.

For the year ended March 31st, 2012, Net Sales stood at Rs 819.6 crore against Rs 715.24 crore, a 14.59% gain over the corresponding period of last fiscal.

EBIDTA increased from   Rs 163.28 crore to Rs 224.33 crore while EBIDTA margin for the period stood at 27.37% against 22.83%. Profit After Tax for the period stood at Rs 120.77 crore against Rs 112.75 crore reported in the last corresponding period.

TEECL subsidiary Simran sold a total of 81,443 RECs at an average price of around 2900/-per REC during the financial year FY11-12, realizing Rs 23.64 crore, a share of close to 8% in the total traded volume in the REC market.

P.P. Gupta, Managing Director, TEECL, said, “The year was significant in terms of growth witnessed in the company. TEECL moved up the value chain, from being a power EPC contractor to a leading IPP in clean energy and becoming owner of the first ever power transmission network in the country.

“We remain committed to our strategy of having an installed capacity of 1,250 MW and adding one transmission link annually to our portfolio by 2017.”

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