HPL Electric & Power rallied 7.64% to Rs 86.70 after the company announced that it has won a smart meter order worth Rs 409.10 crore from an institutional customer in west India.
The company currently has an order book of over Rs 1200+ crore as of 27 February 2023.Gautam Seth, joint managing director, HPL Electric and Power, said, "We are fully equipped to cater to more large DISCOMs and service providers in the Indian market and are excited to continue growing our order books."
HPL Electric & Power is one of the leading players and India's fastest growing electrical and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, energy saving meters, CFL & LED lamps and luminaries for domestic, commercial and industrial applications, modular switches covering the entire range of household, commercial and industrial electrical needs.
The company's net profit declined 31.2% to Rs 6.36 crore in Q3 FY23 on 7.7% rise in net sales to Rs 301.59 crore in Q3 FY23 over Q3 FY22.
The company's current market capitalization stands at Rs 552.34 crore.
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