GE Vernova Q1 Results | Net profit more than doubles to ₹291 crore; order bookings jump 57%

GE Vernova T&D India Ltd on Tuesday (July 29) reported that its first quarter net profit soared 117.2% year-on-year to ₹291 crore over ₹134 crore in Q1FY25.

Revenue from operations increased 38.8% to ₹1,330 crore against ₹958 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 113.2% to ₹388 crore in the June quarter over ₹182 crore last year, while the EBITDA margin expanded significantly to 29.1% over 19% YoY.

Also Read: GE Vernova T&D India net profit jumps nearly 3-fold to ₹186 crore in Q4

The company reported order bookings of ₹1,620 crore for the first quarter of the financial year 2025-26, marking a 57% YoY increase compared to ₹1,030 crore in the quarter ended June 2024.

Vernova secured multiple orders from private TBCB developers for the supply of 765 kV transformers and reactors in Rajasthan and Gujarat. It also received an order for the supply of 420 kV GIS from Bharat Heavy Electricals Ltd in Madhya Pradesh.

Additionally, GE Vernova secured an order for the supply of 420/245 kV GIS from a private EPC player in Maharashtra. The company received multiple orders for the supply of 765 kV AIS equipment and grid automation packages from various EPC players.

Also Read: GE Vernova to invest ₹140 crore to expand manufacturing operations in India

Further, GE Vernova secured several export orders for AIS and GIS equipment from Europe, South-East Asia, the Middle East, and Africa.

Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India, said, "We delivered a strong and productive first quarter of FY2025-26, driven by continued momentum as India modernises its grid to improve reliability, accommodate renewable energy sources, and meet increasing electricity demands from various sectors."

The results came after the close of the market hours. Shares of GE Vernova T&D India Ltd ended at ₹2,472.50, up by ₹76.10 or 3.18%, on the BSE today (July 29).