KPI Green rises on bagging 5.40 MW hybrid power project

KPI Green Energy advanced 3.89% to Rs 891 after the company announced the receipt of a new order of 5.40 MW under wind-solar hybrid power project under CPP segment.

In an exchange filing made after market hours yesterday, the power producer said that it has received a new order for executing wind-solar hybrid power project of 5.40 MW (comprising of 5.40 MW wind turbine and 4 MWdc solar) capacity from Surat-based Greenlab Diamonds LLP under the 'captive power producer (CPP)' business segment of the company.

KPI Green Energy (formerly known as K.P.I. Global Infrastructure) 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.

The company's consolidated net profit surged to Rs 22.23 crore in the quarter ended June 2022 as against Rs 7.99 crore during the previous quarter ended June 2021. Sales jumped to Rs 122.33 crore in Q1 FY23 from Rs 35.42 crore in Q1 FY22.

On a year-to-date (YTD) basis, the stock has zoomed 175.08% while the benchmark Sensex has added 1.68% during the same period.

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