Alstom T&D Posts 89 Per Cent Rise in June Quarter Profit

New Delhi: Alstom T&D India, an arm of French firm Alstom, on Wednesday reported an 89 per cent rise in net profit at Rs 28.4 crore for the quarter ended June 2014 on the back of higher income.

The company's net profit in the corresponding quarter of the last fiscal year (2013-14) was Rs 15 crore, it  said in a filing to the BSE.

The power transmission and distribution equipment firm's total income from operations increased to Rs 673 crore from Rs 586.7 crore a year ago, it said.

Total expenses increased to Rs 616.1 crore  from Rs 545.9 crore a year ago, the company said.

GE Energy Europe had earlier made an open offer to power equipment maker Alstom T&D India for buying a 25 per cent stake in the company for Rs 1,672.3 crore.

"As per the announcement, the acquirer will proceed with offer, only if the underlying transaction to the offer is consummated. The board of directors of ultimate holding company, Alstom SA, has also made its recommendation in favour of acquisition of its thermal power, renewable power and grid sectors, as well as its corporate and shared services," the company said in a filing the BSE.

Shares in Alstom T&D India, on Wendesday, ended at Rs 355.10 apiece on the BSE, up 10.65 per cent from the previous close.