Techno Electric & Engineering Company Limited announced that the Board of Directors at their meeting held on August 05, 2016 has approved the appointment of Mr. Rajendra Prasad Singh as an Additional Independent Director of the company with effect from August 05, 2016. The board accepted the resignation of Mr. V. D Mohile, Non-Executive Independent Director who has resigned from the Board of Directors of the company with effect from August 05, 2016.

The company reported unaudited standalone and consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, on standalone basis, the company reported net sales/income from operations of INR 2,383.007 million against INR 1,831.105 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 367.069 million against INR 269.476 million a year ago. Profit from ordinary activities before tax was INR 336.538 million against INR 215.801 million a year ago. Net profit for the period was INR 265.405 million against INR 169.745 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 4.65 against INR 2.97 a year ago.

For the quarter, on consolidated basis, the company reported net sales/income from operations of INR 2,678.192 million against INR 1,998.969 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 579.041 million against INR 356.577 million a year ago. Profit from ordinary activities before tax was INR 564.673 million against INR 535.414 million a year ago. Net profit for the period was INR 480.182 million against INR 377.494 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 8.41 against INR 6.61 a year ago.