Nibe was locked in an upper circuit of 5% at Rs 1,519.35 after it announced that its subsidiary Karmayogi Manufacturing received purchase order from Ordefence System worth Rs 307 crore.
The scope of the purchase order includes supply of assemblies, sub-assemblies and supply of 12 kits of small arms (12 sub-assemblies), total lot of 1,25,000.The project is to be executed on or before 31 March 2027 and cost of the project is Rs 307.76 crore.
NIBE trades in electronic components, fabrication materials, and provides technical consultancy. It also provides services for the design, supply, erection, testing, and commissioning of low and medium voltage lines and substations on a turnkey basis.
The company reported a consolidated net profit of Rs 4.38 crore in Q3 FY24, steeply higher from Rs 0.73 crore in Q3 FY23. Revenue from operations stood at Rs 62.69 crore in Q3 FY24, a steep increase from Rs 15.18 crore in Q3 FY23.
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