GE Power India advanced 1.51% after the company announced that it has received a contract worth Rs 240.4 crore (NPR 340 million) from Blue Energy in Nepal.
The scope of the project entails design, engineering, procurement, supply of turbine, governing, generator, control and protection system up to project site, erection, testing and commissioning of Ge Vernova supplied equipment for 100MW super trishuli HPP.The said order will be executed within 42 months.
The said order is related to Hydro Business. It will be accounted for in accordance with the provisions of the business transfer agreement between the Company and GE Power Electronics (India) (now renamed as GE Vernova Hydro Power India) for the sale and transfer of the Hydro Business undertaking of the Company.
GE Power India's expertise covers engineering, manufacturing, project management, and supplying products and equipment for power plants. They operate across the entire power plant lifecycle, from design and procurement to construction and servicing.
The company reported a consolidated net profit of Rs 25.94 crore in Q4 FY24 as against a net loss of Rs 129.7 crore in Q4 FY23. Revenue from operations rose by 13.43% year on year (YoY) to Rs 390.76 crore in the fourth quarter of FY24.
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