Surana Telecom rises on bagging Rs 190-cr LoA

Surana Telecom and Power advanced 2.18% to Rs 24.42 atfer the firm received a letter of award (LoA) for supply of 54 MW power from solar project at an estimated project cost of Rs 190 crore.

The order entails for solar photovoltaic power generating stations of an aggregate capacity of 54 MW (AC) under Mukhyamanatri Saur Krushi Vahini Yojna 2.0, a scheme launched for implementation of feeder level solarisation under component C of the PM-KUSUM Scheme from Maharashtra State Electricity Distribution Company (a Government of Maharashtra undertaking).

The project shall be commissioned within 18 months from LoA and the contract period shall be 25 years from the commissioning of the project.

Surana Telecom & Power is into the business of manufacturing/trading solar-related products and the generation of solar power and wind power.

The companys consolidated net profit surged 224.6% to Rs 2.24 crore in Q2 FY25 as against Rs 0.69 crore posted in Q2 FY24. Net sales slipped 47.9% YoY to Rs 3.01 crore in the September 2024 quarter.

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