Techno Electric crackles with power!
By
Research Desk
about 8 years ago
Techno Electric and Engineering Company has shown an almost 9 times jump up in volumes, with stock price going up to Rs.325.40 from yesterday’s close of Rs.292.20.
The company posted a very good set of numbers for Q2FY17. On a 45% (YoY) rise in total income at Rs.368 crore, the company recorded a 58% jump in net profit at Rs.71 crore. EBITDA was also healthy – going up 34% at Rs.111 crore and margins spurted up from 30.3% to 32.8%.
This gratifying performance apart, the company also announced that it plans to sell its 45 MW wind power business and that is expected to bring in some money in the coming quarters.
As at 30th September 2016, promoters holding in the company stood at 57.98%, while Institutions held 25.87% .