Triveni engineering PAT declines by 5.36 pc

New Delhi, Jan 15 (UNI) Triveni Engineering and Industries Ltd (TEIL), India's leading manufacturer of sugar and mechanical equipment today announced that the company's net profit has declined by 5.36 per cent at Rs 21.89 crore for quarter ended December 31,2006 as against Rs 23.13 crore for the same quarter last year.

The total revenues of the company was at Rs 307.01 crore for the quarter ended December 31, 2006 as compared to Rs 293.06 crore for the same quarter last year, a growth of 4.76 per cent.

Dhruv M Sawhney Chief Managing Director Triveni Engineering and Industries said, ''The sugar business recorded lower sales and profits, on account of lower inventory and reduced margins, which were further accentuated due to various macro economic reasons.

He further added, ''In the medium term,we expect our engineering businesses to continue recording strong growth and our integration of sugar operations with co-generation of power and distillation of alcohol together with the UP Government incentive should enable us to deliver a good performance.

UNI