K P I Global spurts after signing long term agreement with GHCL

K P I Global Infrastructure surged 6.4% to Rs 137.50 after the company signed new long term Power Purchase Agreement (PPA) with GHCL Limited, Bhilad.

In a regulatory filing on Thursday, the company informed that it signed a new long term Power Purchase Agreement (PPA) with GHCL, Bhilad for sale of 1.25 MW solar power for a period of 20 years under Independent Power Producer (IPP) business vertical.

K.P.I. Global Infrastructure Limited generates and sells solar power under Solarism brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.

On a consolidated basis, the company posted a net profit of Rs 7.99 crore in Q1 FY22 as compared to a net loss of Rs 1.45 crore reported in Q1 FY21. Net sales soared by 104.9% to Rs 35.42 crore in Q1 FY22 over Q1 FY21.

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