KPI Green Energy said that its wholly owned subsidiary Sun Drops Energia has received letters of intent for executing solar power projects with a cumulative capacity of 7 MW under the 'Captive Power Producer (CPP)' business segment of the company.
The domestic entities that have awarded the aforementioned letters of intent (LoIs) are Wolkem India and Mahadev Texo Fab.
The said projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
KPI Green Energy develops and maintains grid connected solar power projects and sells power units generated from the company's solar plants.
The companys consolidated net profit surged 98.76% to Rs 66.11 crore in Q1 FY25 as compared to Rs 33.26 crore recorded in Q1 FY24. Revenue from operations climbed 83.78% year on year (YoY) to Rs 348.01 crore in Q1 FY25.
The scrip rose 0.99% to currently trade at Rs 895 on the BSE.
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