Power Mech Projects bags two orders worth Rs 658 cr

Power Mech Projects (PMPL) said that it has received multiple orders aggregating to Rs 658.57 crore.

The company bagged an order from Madhya Pradesh Water Resources Department, Government of Madhya Pradesh for construction of upper burhner project dam and pressurised pipe irrigation network for Rs 541.62 crore. The project will be completed within a period of 60 months.

The civil construction company has also received an order from Gujarat Mineral Development Corporation (GMDC). The order includes boiler and ESP package for overhaul including spares of 2x125 megawatt (MW) Akrimota Thermal Power Station of Gujarat Mineral Development Corporation. The order is worth Rs 116.95 crore. The said order will be executed within 11 months.

Power Mech Projects is an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).

The company's consolidated net profit rose 21.53% to Rs 61.52 crore on 21.82% increase in revenue from operations to Rs 1,107.50 crore in Q3 FY24 over Q3 FY23.

The scrip declined 0.45% to Rs 5,137.25 on the BSE.

Powered by Capital Market - Live News