VA Tech Wabag climbs after securing multiple orders

VA Tech Wabag jumped 3.13% to Rs 221.05 after the company said it secured multiple orders worth over Rs 760 crore in India, Switzerland and Singapore.

In an exchange filing during market hours today, VA Tech said it bagged Asian Development Bank (ADB)-funded water supply project in Bhagalpur, Bihar. The company also won an order to design and build a 178 MLD water treatment plant at Coimbatore.

The company secured an order to build 103 MLD drinking water treatment plant in Saint Sulpice, Switzerland. It also secured a contract for odour control systems for Tuas Water Reclamation Plant in Singapore through Koh Brothers- China Harbor Joint Venture. WABAG Singapore has also secured an extension contract for servicing and maintenance of sludge drying systems at Changi Water Reclamation Plant.

Commenting on these orders, Rajiv Mittal, managing director and Group CEO said, "These orders worth over Rs 760 crore, reflect WABAG's reputation as the preferred partner globally, testifying continued trust in WABAG credentials."

On a consolidated basis, the company's net profit slumped 79.8% to Rs 2.62 crore on a 33.6% decline in net sales to Rs 456.53 crore in Q1 June 2019 over Q1 June 2018.

VA Tech Wabag operates in the field of total water management. With presence in four continents, Wabag is a pure-play water technology multinational offering a wide range of solutions focused on conservation, optimization, recycling and reuse of resources, directed at addressing water challenges across the world.

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