Heavy Electrical Equipment company GE Power India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Total income for the quarter is Rs 4,698.9 million up by 30.7%, compared to Rs 3,594.1 million in Q4FY23 Profit before exceptional items for the quarter is Rs 230.9 million due to one-time positive impact of insurance and customer claims, compared to loss of Rs (-) 1,281.8 million in Q4FY23. EBIDTA (before interest and depreciation expense) for Q4FY24 is 9.3%, compared to (-) 29.0% for the Q4FY23. Though Services business continues to grow, operational pressures and execution challenges at New build project sites still persist. The Quarter Ended (QE) with Order backlog of Rs 33,090 million down by 8.5%, compared to Rs 36,153 million in Q4FY23. FY24 Financial Highlights: Total income for the year is Rs 17,656.5 million down by 6.3%, compared to Rs 18,840 million in FY23 Loss before exceptional items for the year is Rs (-) 1,770.8 million, compared to Rs (-) 3,236.0 million in FY23. Exceptional item for the year is Rs Nil, compared to Rs 106.9 million in FY23. Prashant Jain, Managing Director, GE Power India Limited said, “The financial year 2023-24 witnessed a decline in orders by 19% over the previous year due to lower order intake in Hydro and delay in FGD ordering with an impact on backlog reduction and revenue lower by 10%. Core Services continues to grow ~40% and there is an upswing in Upgrades which includes major De Nox orders from Hindustan Zinc Limited CPP and Maithon Power Limited. The financial year overall saw reduction in losses due to a one-time positive impact of insurance and customer claims. The fourth quarter continued to witness slower conversion of FGD and Hydro opportunities. On the other hand, this quarter continued to be strong for our Services business which led the revenue going up by 14% vs. Q4 of the previous year.” Result PDF