GE Power India (532309) Q4 03/04 earnings summary

Executive summary

• FY2003/04 profit after tax rose to Rs 772.0m from Rs 646.7m; Rs 462.8m of the result was a one-time gain on the Industrial Steam Turbine business sale. document-source3

• Order backlog was reported as sufficient for about 20 months of revenue; the outlook emphasized opportunities in power, rail transport and grid modernization. document-source8

Financial highlights

• Net sales and services were Rs 5,898.9m versus Rs 5,853.9m; total income was Rs 6,102.2m versus Rs 6,218.2m. document-source24

• PBT before extraordinary item fell to Rs 301.1m from Rs 694.6m; the Rs 462.8m IST disposal gain lifted reported PBT to Rs 763.9m. document-source24

• Reported PAT was Rs 772.0m versus Rs 646.7m; consolidated PAT was Rs 754.1m versus Rs 607.8m. document-source2448

• Consolidated net sales and services were Rs 5,994.3m versus Rs 5,944.3m; consolidated total income was Rs 6,202.8m versus Rs 6,314.6m. document-source48

Outlook and guidance

• Power outlook was described as good, supported by a Rs 7,759m order backlog and several bids in advanced stages; the Electricity Act was expected to broaden private-sector opportunities. document-source9

• Transport opportunities included rail safety upgrades, suburban rail modernization and project bids following the Delhi Metro association. document-source9

• T&D expected growth from power trading, inter-grid connections and substation automation; a sale of the T&D business was proposed, subject to member approval. document-source93