 "Wind Power projects")
Energy company K.P. Energy shares soared on Tuesday, and are locked in 5 per cent upper circuit at Rs 409.85 apiece. On the other hand, S&P BSE Sensex was trading 0.24 per cent higher at 73,825.57 levels.
The surge came after K.P. Energy secured an order for development of a 9MW wind power project in Gujarat.
In an exchange filing, the Gujarat-based company said, “We are pleased to inform you that K.P. Energy Limited has received a new order for development of a 9MW wind power project forming part of the wind-solar hybrid power project to be developed in Gujarat.”
The company received the order from Bhathwari Technologies Private Limited under Captive Power Project segment, K.P. Energy said in a statement. The project shall be connected to the State Transmission Utility (STU) network.
The project includes both supply and service for development of the project on a turnkey basis, K.P. Energy added.
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The project is expected to be completed in the financial year 2024-25 (FY25).
K.P. Energy’s market capitalisation is Rs 2,733.29 crore, according to BSE. The share’s 52-week high is Rs 465 per share while its 52-week low is Rs 58.61 per share.
Q4 performance
K.P. Energy’s consolidated profit zoomed 60 per cent to Rs 24.89 crore during the quarter ended March 2024 on account of increased income. It had reported a net profit of Rs 15.48 crore in the same quarter a year ago.
The company’s net profit stood at Rs 58.32 crore for FY24, up from Rs 43.90 crore in FY23.
Its expenses came in at Rs 183.28 crore, up from Rs 128.56 crore in the same quarter previous fiscal. Meanwhile, the expenses were at Rs 408.18 crore in FY24, as opposed to Rs 377.41 crore in the previous fiscal.
