Kalpataru Power gains on bagging orders worth Rs 1,247 cr

Kalpataru Power Transmission (KPTL) rose 1.63% to Rs 558.55 after the company announced that it & its international subsidiaries received new orders worth Rs 1,247 crore in India and overseas market in the T&D business.

Manish Mohnot, managing director & CEO, KPTL, said, With these new orders, we have further strengthen and consolidated our market position in India, SARRC and African markets. We expect T&D ordering momentum to remain robust given the thrust on renewables and upgradation of T&D infrastructure in India and International markets.

Further he added, KPTL's YTD FY23 order inflows have crossed Rs 17,031 crore on consolidated basis. The existing order book along with our diversified business mix provides good visibility for growth in coming quarters.

Kalpataru Power Transmissions is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation.

The company's consolidated net profit rose 3.6% to Rs 86 crore on 7% jump in net sales to Rs 3,798 crore in Q2 FY23 over Q2 FY22.

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