Indian Hume Pipe Co. rose 1.89% to Rs 167.30 after the company said it received letter of acceptance for a project worth Rs 357.53 crore from Madurai City Municipal Corporation, Tamil Nadu.
The company has received letter of acceptance for the work of Rs 357.53 crore (including GST) from Madurai City Municipal Corporation, Madurai, Tamil Nadu for providing dedicated water supply to Madurai City Municipal Corporation. The project is to be completed within 30 months followed by six months trial run and commissioning. The agreement will be signed in due course. The announcement was made during trading hours today, 11 March 2020.The company's standalone net profit rose 21.6% to Rs 12.91 crore on a 7.3% rise in net sales to Rs 392.88 crore in Q3 December 2019 over Q3 December 2018.
Indian Hume Pipe Co. manufactures and markets hume pipes and allied products.
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