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Monday October 27, 05:59 PM
AREVA T&D India Ltd Announces Buoyant Q3 and 9M Results of 2008 |
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Mumbai, Maharashtra, India, Monday, October 27, 2008 -- (Business Wire India) -- The Board of Directors of AREVA T&D India Ltd. met on October 27th, 2008 in Mumbai, to approve the third quarter and nine month results of the Company.
For the third quarter 2008, AREVA T&D India reported an 11 % increase in its operating profits at Rs. 85 Crores against Rs. 76 Crores in the corresponding quarter of the previous year. During the same period, sales grew to Rs. 583 Crores from Rs.433 Crores last year.
On the nine months performance in 2008, sales grew by 34 % to Rs. 1708 Crores from Rs.1273 Crores in the previous year. The growth in net profit is at 29 %, making Earnings per Share at Rs. 35.78 for the 9 months. The Company has registered significant order intake of Rs 3,230 Crores, during 9 M of 2008, which is a 113% increase over the orders received
during the same period last year.
During the third quarter of 2008, AREVA T&D has made major customer breakthroughs, especially in the Transmission and Distribution segments. Major customer contracts include a multi product contract for Bhilai Steel Plant, RRVPNL Hybrid Substation and Distribution Transformers for Wind Energy segment, which is a first for AREVA T&D, India.
The Board of Directors have discussed in-depth, the current financial crisis and the resultant economic situation in the country. The Board has decided to remain alert and to monitor closely any changes in the T&D market condition arising out of this scenario.
Mr. Rathin Basu, Country President and Managing Director of AREVA T&D India, said: “The Indian T&D Industry is growing at 20%. Our aggressive focus on cost optimization, investments in de-bottlenecking of capacities and manufacturing excellence, are key to our market competitiveness and in maintaining our leadership position in the Indian T&D Industry”.
Mr. Karim Vissandjee, CFO of AREVA T&D global, present at the Board meeting said: “A world leader in High Voltage and Ultra High Voltage technologies, AREVA T&D is reinforcing its position in this market. Our capacity increase program is progressing, with six new factories at three green-field sites at Baroda, Hosur and Chennai Padappai ready for production by March 2009”.
More about AREVA T&D:
With manufacturing facilities in 43 countries and a sales network in more than 100 countries, AREVA offers customers reliable technological solutions for CO2-free power generation and electricity transmission and distribution. We are the world leader in nuclear power and the only company to cover all industrial activities in this field. Our 71,000 employees are committed to continuous improvement on a daily basis, making sustainable development the focal point of the group’s industrial strategy. AREVA’s businesses help meet the 21st century’s greatest challenges: making energy available to all, protecting the planet, and acting responsibly towards future generations.
AREVA's T&D division is an active player around the globe. It designs, manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user. www.areva-td.com
AREVA T&D currently employs 4200 people in India. AREVA T&D India Ltd. currently has 8 manufacturing units & 22 sales offices. Its three new greenfield manufacturing plants at Vadodara, Padappai and Hosur will be ready for production by March 2009. The company has been a trend- setter in the field of High-Voltage Switchgear; first to build the 765 kV Sub-station in India with NTPC at SIPAT, Chhattisgarh. Around 70% of load flow in India is managed by AREVA T&D's Automation solutions and has to its credit a complete range of T&D Products, Systems, Services & Automation solutions.
To view the financial results please click the link mentioned below:
AREVA T&D Q3 Results
Media contact details
Vandana Dhir,
Areva T&D India,
+91 9717791521,
vandana.dhir@areva-td.com
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