Shakti Pumps (India) announced that it has received work order from Haryana Renewable Energy Department (HAREDA) for supply of 2,443 pumps under KUSUM‐3 scheme.
The order includes supply, installation and commissioning of solar water pumping systems.The total consideration of order is Rs 84.30 crore and it will be executed within 90 days from the date of issue of work order.
Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.
The company reported consolidated net profit of Rs 45.2 crore in Q3 FY24 which is steeply higher than Rs 11.2 crore posted in Q3 FY23. Revenue from operation jumped 57% YoY to Rs 495.62 crore recorded in the third quarter of FY24.
The scrip shed 0.60% to settle at Rs 1,389.05 on Friday, 23 February 2024.
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