Kalpataru Power Transmission gained 1% to Rs 344.15 in a weak market after the company and its subsidiaries bagged new order worth Rs 4,474 crore on a consolidated basis.
Kalpataru Power Transmission secured orders worth Rs 1,957 crore from India and international markets in the power transmission business. The company also received an order for oil & gas pipeline projects in India and Middle East worth Rs 169 crore.Meanwhile, JMC Projects, company's subsidiary received orders worth Rs 2,193 crore for water supply project in India. JMC Project also bagged an order worth Rs 155 crore for B&F project in South India.
Commenting on the new order announcements, Manish Mohnot, managing director & CEO of KPTL said These new orders will help us to strengthen our market position in high growth businesses, as we further diversify our clientele and penetrate into newer markets. We are particularly pleased with our Oil & Gas business, as they have secured their first international EPC order for laying gas pipeline in Middle East. Significant value of these new orders have price variation clause, which protects our margins to a large extent given the volatility in commodity prices.
Kalpataru Power Transmission is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation.
The company reported a nearly 16% fall in consolidated net profit to Rs 259 crore in Q3 FY22 from Rs 308 crore posted in Q3 FY21. Consolidated net sales grew 11% to Rs 3889 crore in Q3 FY22 from Rs 3501 crore posted in Q3 FY21.
Kalpataru Power will announce its financial results for quarter ended 31 March 2022 on 14 May 2022.
Meanwhile, the barometer, the S&P BSE Sensex was down 1,050 points or 1.94% at 53,037.69 amid weak global cues.
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