Shakti Pumps (India) announced that it has received work order worth Rs 73.32 crore from Haryana Renewable Energy Department (HAREDA) for supply of 2,130 pumps under KUSUM 3 scheme.
The order includes supply, installation and commissioning of solar water pumping systems, said the company.
The order is to be executed within 120 days from the date of issue of work order.
Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.
The company reported consolidated net profit of Rs 45.2 crore in Q3 FY24 which is steeply higher than Rs 11.2 crore posted in Q3 FY23. Revenue from operation jumped 57% YoY to Rs 495.62 crore recorded in the third quarter of FY24.
The scrip slipped 3.97% to Rs 1,175 on the BSE.
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