Indian Hume Pipe rose 1.05% to Rs 256.20 after the company received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for engineering, procurement and construction (EPC) project worth Rs 495.04 crore.
The order includes EPC of civil, mechanical and electrical works for pressurised piped distribution network of Varkhede Londhe irrigation project including operation and maintenance of entire system for 5 years for CCA 8290 hectare (Ha) Taluka, Chalisgaon, District, Jalgaon.The size of the order is Rs 495.04 crore (excluding royalty, insurance, GST, land acquisition and crop compensation). The project will be executed within 24 months.
Indian Hume Pipe manufactures hume pipes, hume steel pipes, pre-stressed concrete pipes, bar wrapped steel cylinder pipes, steel penstock pipes, RCC poles, septic tanks, RCC lampposts and manhole covers. It also undertakes contracts for erection and commissioning of water supply and sewage schemes for various state governments and municipal corporations , fabrication and erection of penstocks for various power projects, and executes work pertaining to lift irrigation schemes.
The companys standalone net profit jumped 19.7% to Rs 15.14 crore in Q3 FY24 as compared with Rs 12.65 crore in Q3 FY23. Revenue from operation fell 21.3% YoY to Rs 318.53 crore.
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