On the sub-continent, the company secured an order for 22 new power conditioning systems with follow up orders for another 50 systems.

AES said it also expects significant profits to come from its partially-owned Indian operation, Pulse Power, whose order book is approaching $2 million over the next three quarters.

The company said it is also confident of securing new business in the renewable energy-based water pumping sector in India.

As for the US, where the company is delivering advanced fuel cell power conditioners to Global Thermoelectric and H Power, the company is looking for increased revenue over the next 12-18 months by negotiating further orders with these two companies.

"AES expects to report an April-June quarterly revenue of approximately $5 million, matching its performance in the January-March quarter. The group profitability for the April-June quarter is expected to show considerable improvement over the January-March quarter," the company said in a statement to the exchange.

Despite the announcement and optimistic outlook, share investors remained ambivalent about the announcements with AES shares trading at 28c, unchanged from yesterday.