Skipper secures order worth Rs 737 crore from Power Grid Corporation

Skipper Limited, leading manufacturers for power transmission and distribution structures, on Sunday said it has secured an order worth Rs 737 crore from Power Grid Corporation of India Limited (PGCIL) for design, supply and construction of a cutting-edge 765 kV transmission line for the central PSU.

Skipper director Sharan Bansal expressed enthusiasm about this latest achievement in the power transmission and distribution sector, emphasising the company's optimistic outlook on the industry.

He highlighted the substantial boost to Skipper's order book in the transmission and distribution landscape, with the year-to-date order intake exceeding Rs 3,900 crore.

"The orders from PGCIL have notably bolstered our order book in the transmission and distribution (T&D) landscape. With a year-to-date order intake surpassing Rs 3,900 crore, these recent victories are poised to significantly contribute to our envisioned growth trajectory in the foreseeable future," he said.

The company, which is also into polymer, had announced a 115 per cent jump in consolidated net profit to Rs 20.4 crore for the third quarter ended December 2023, up from Rs 9.5 crore registered in the same period of last year.

Revenue also surged by 80 per cent during the quarter to Rs 801 crore, attributed to robust execution and a strong order book, he said.

Bansal said, "The order bidding pipeline also remains robust, with a substantial international pipeline of Rs 9,830 crore and a domestic pipeline of Rs 5,200 crore.