New Delhi, Feb 7 (PTI) Transformers and Rectifiers on Monday posted about five-fold jump in consolidated net profit to Rs 5.6 crore for December quarter 2021-22 mainly due to higher income.

The company had logged a net profit of Rs 1.14 crore in the year-ago period, a BSE filing said.

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Total income rose to Rs 339.80 in the quarter from Rs 169.40 crore in the same period a year ago.

The board in its meeting also approved further investment in Savas Engineering Company Private Ltd, a wholly-owned subsidiary, through various modes.

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Moreover, the board approved a proposal to enhance its stake from 60 per cent to 100 per cent in T&R Switchgear Private Ltd.

After all compliances made regarding stake acquisition, T&R Switchgear will become a wholly-owned subsidiary of the company.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)