Triveni Turbines on Monday reported over 51 per cent decline in its consolidated net profit to Rs 24.39 crore for the September quarter compared to the year-ago period mainly due to lower revenues.
The Buyback will be on a proportionate basis from the shareholders of the Company, through the 'Tender Offer' route
The board has approved a buyback of 10 million shares at a price of Rs 100 per share via the tender offer route
The stock rallied 10% to Rs 64.70 on the BSE in intra-day trade after the company reported profit of Rs 68 crore in Q2FY17 against Rs 23 crore in Q2FY16.