Deep Industries gains on order win worth Rs 83.53 cr

Deep Industries rose 1.68% to Rs 142.20 after the company bagged an order from Vedanta worth Rs 83.53 crore.

On Friday, 17 December 2021, Deep Industries has received a letter of award (LoA) from Vedanta for its Integrated Oil & Gas facility to be placed in single well pad at Jaya Field in Cambay Oalp Block (along with its operation and maintenance for a period of 3 years) for a total estimated value of approximately Rs 83.53 crore.

On a consolidated basis, Deep Industries' net profit stood at Rs 21.33 crore in Q2 FY22 as compared to a net loss of Rs 2.04 crore in Q2 FY21. Net sales stood at Rs 91.27 crore in Q2 September 2021, registering a 95.9% growth from Rs 46.60 crore in Q2 September 2020.

 

Deep Industries has grown up to be a "one stop solution" provider for every need in oil and gas field operations by catering various equipment and services under rental and chartered-hire basis.

Shares of Vedanta declined 3.28% to Rs 321.45 on BSE.

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