Power Mech Projects advanced 3.52% to Rs 5861.35 after the company said that it has received an order for providing operation and maintenance (O&M) from Coastal Energen worth Rs 114.30 crore.
The project involves operation and maintenance of two 600 MW coal-based thermal power plant namely Mutiara Thermal Power Plant, owned by Coastal Energen. The tenure of this contract is 12 months.
Power Mech Projects is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).
The company had reported 17.93% rise in consolidated net profit to Rs 60.13 crore on a 16.44% increase in sales to Rs 1,007.39 crore in Q1 FY25 over Q1 FY24.
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