Rama Steel Tubes hit an upper circuit of 10% at Rs 311.15 after the company procured orders from Uttar Pradesh Power Corporation (UPPCL) to the tune of 580 MT aggregating to approximately Rs 4.33 crore.
This order is mainly for supply of no's 2500 electrical poles amounting to -580 MT. This order is in addition to the previous order received from UPPCL for no's 7000 poles amounting to-L624 MT.
Naresh Kumar Bansal, chairman and managing director, Rama Steel Tubes, said "We are pleased to announce that our sustained relationship and credibility has yet again assisted us bagging in this new prestigious order from UPPCL. Even in the past, RSTL has been associated with many State Corporations, and we celebrate our long-standing relationship with them.
These orders with help us in strengthening our position and credibility in the market. These orders will also help us in achieving our targeted revenues at a slightly faster rate than what we had anticipated."
Rama Steel Tubes is a manufacturer of steel tubes. The company has 2O% exports rate, with a global presence in more than 16 countries.
The company's consolidated net profit surged to Rs 7.09 crore in the quarter ended September 2021 as against Rs 3.45 crore during the previous quarter ended September 2020. Sales rose 48.57% YoY to Rs 192.99 crore in Q2 FY22.
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