Engineers India gained 2.64% to Rs 73.85 after the company said it secured a Rs 1,039-crore order from Chennai Petroleum Corporation (CPCL).
In a regulatory filing to stock exchanges on Friday, Engineers India said, "Chennai Petroleum Corporation entrusted the project for execution of EPCM-1 with MPMC & EPCM-3 services for 9 MMTPA Cauvery Basin Refinery (CBR) Project at Nagapattinam, Tamil Nadu. The total awarded order value is Rs 1039 crore with a total project schedule of 42 months for mechanical completion."Engineers India provides design, engineering, procurement, construction, and integrated project management services primarily for oil and gas and petrochemical industries. The Government of India owned 51.32% stake in company as on 30 June 2021.
On a consolidated basis, the company reported a net loss of Rs 89.95 crore in Q1 FY22 compared with net loss of Rs 1.92 crore reported in Q1 FY21. Net sales jumped 57.2% to Rs 746.08 crore in Q1 FY22 over Q1 FY21.
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