Areva T&D India Ltd for the third quarter ended 30th September 2008 has managed to maintain its growth. The company's net sales rose 35.57% on a YoY to Rs 586.46 crore. Operating profit grew by 11% at rs.85 crore. Profit after tax of Rs 52.31 crore for the quarter was up by 8.89%.
During the third quarter, the company made significant additions to its customer list and secured major contracts from Bhilai Steel Plant worth Rs.221 crore. Areva will provide the transmission and distribution services to the steel plant. The power company will also supply substations to the steel plant and revamp its existing substations. The company expects to complete the project by October 2010.
It also got an order from RRVPNL Hybrid substation and distribution transformers for wind energy segment, a first for the company.
Unlike other sectors which are facing a major slowdown, power is one sector which simply cannot afford to slowdown and irrespective of the financial crisis, companies are going ahead full swing with their power projects. And reflecting this, Areva is going ahead with its expansions, with six new factories at three greenfield sites at Baroda, Hosur and Chennai Padappai ready for production by March 2009.
Areva T&D makes a good long term buy at the current levels as its prospects for the year remains good.
During the third quarter, the company made significant additions to its customer list and secured major contracts from Bhilai Steel Plant worth Rs.221 crore. Areva will provide the transmission and distribution services to the steel plant. The power company will also supply substations to the steel plant and revamp its existing substations. The company expects to complete the project by October 2010.
It also got an order from RRVPNL Hybrid substation and distribution transformers for wind energy segment, a first for the company.
Unlike other sectors which are facing a major slowdown, power is one sector which simply cannot afford to slowdown and irrespective of the financial crisis, companies are going ahead full swing with their power projects. And reflecting this, Areva is going ahead with its expansions, with six new factories at three greenfield sites at Baroda, Hosur and Chennai Padappai ready for production by March 2009.
Areva T&D makes a good long term buy at the current levels as its prospects for the year remains good.
Source: sptulsian.com
