H G Infra soars on entry in energy, green hydrogen segment

H G Infra Engineering soared 9.56% to Rs 1159.55 after the company announced its entry into the solar energy and green hydrogen segment.

H G Solar Projects, a wholly owned subsidiary of H G Infra Engineering, has incorporated three wholly owned subsidiaries namely, H G Jodhpur Solar Energy, H G Solar Project Developer and H G Green Hydrogen Power.

All three subsidiaries were incorporated on 24 April 2024, under the Companies Act, 2013, and are registered in the State of Rajasthan. Their primary focus will be on the development of solar power projects.

H G Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES).

The companys consolidated net profit decreased 22.03% to Rs 102.05 crore despite of 15.15% increase in revenue from operations to Rs 1,364.53 crore in Q3 FY24 over Q3 FY23.

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