Diamond Power Infrastructure was locked in 5% upper circuit at Rs 99.09 after the company announced that it has received a letter of intent (LoI) from Adani Green Energy for a project worth Rs 214.65 crore.
The contract is for supplying Conductors for Adani Greens Khavda Power Project, which is located in the state of Gujarat.
Diamond Power Infrastructure (DPIL) is one of the oldest cables and conductors manufacturers in India and one of the fastest growing FMEG companies. DPIL was acquired through the NCLT process by GSEC-Monarch Group.
The company had reported a net profit of Rs 6.42 crore in the quarter ended December 2024 as against net loss of Rs 5.28 crore during the previous quarter ended December 2023. Sales rose 412.71% to Rs 307.42 crore in Q3 FY25 from Rs 59.96 crore in Q3 FY24.
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