New Delhi: GE Power India’s standalone net profit for the fourth quarter of the financial year 2018-19 plunged by 47 percent to settle at Rs 27.25 crore, down from Rs 51.15 crore the company recorded in the corresponding period in 2017-18. According to a regulatory filing, GE Power total income for Q4 increased to Rs 400.
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73 crore from Rs 382.68 crore a year ago.
Standalone profit for entire year goes up
Even as the net profit for Q4 slumped, GE Power’s overall standalone profit for the financial year 2018-19 stood at Rs 76.05 crore, up from 26.56 crore in previous fiscal. Total income for the period went up to Rs 2,035.34 crore from Rs 1,478.04 crore in 2017-18.
Consolidated profit at Rs 75.40 crore
The consolidated profit of GE Power for the financial year 2018-19 stood at Rs 75.40 crore as opposed to Rs 26.61 crore in the previous fiscal. Total income rose to Rs 2,035.21 crore from Rs 1,478.18 crore in FY 2017-18.
GE Power’s board recommended a dividend of 60 percent (Rs 6 per equity share) for 2018-19. The dividend, after it is approved by the members of the company at the ensuing annual general meeting, shall be paid on and from July 25.