Total expenses for the period under review rose by 9% year-over-year (YoY) to Rs 350.44 crore.

Profit before tax for the October-December 2023 quarter was Rs 20.58 crore, up by 49% from Rs 13.85 crore recorded in the same period last year.

Total tax outgo for Q3 FY24 was Rs 4.86 crore. The company had written back taxes aggregating to Rs 0.27 crore in Q3 FY23.

Transformers & Rectifiers (India) produces transformers for both domestic and international markets.

The company's consolidated net profit declined 86% to Rs 1.61 crore on a 20.91% fall in sales to Rs 257.06 crore in Q2 FY24 over Q2 FY23.

The scrip shed 0.81% to end at Rs 270.70 on the BSE on Saturday.