Premier Energies gains after arm bags multiple orders worth to Rs 1,087 cr

Premier Energies advanced 2.11% to Rs 1,115.20 after the company informed that its subsidiaries has received multiple orders aggregating to Rs 1,087 crore from 2 large independent power producers (IPP) and 1 other customer.

The subsidiaries include Premier Energies Global Environment, Premier Energies International and Premier Energies Photovoltaic.

The orders involve the supply of Solar PV Cells and Modules. The total value of the orders includes Rs 964 crore for Solar Modules and Rs 123 crore for Solar Cells.

The supply of Modules & Cells is scheduled to be commence from January 2025.

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications.

The companys consolidated net profit surged 289.6% to Rs 205.95 crore in Q2 FY25 as compared with Rs 52.86 crore in Q2 FY24. Net sales stood at Rs 1,527.22 crore, up 120.2% as compared with Rs 693.70 crore in Q2 FY24.

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