Power Mech Projects received a letter of intent (LoI) for two works aggregating to Rs 725.17 crore.
The first project entails - a 31.8 km four laning of NH-365A from Kodad to Khammam in Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode for NHAI worth Rs 645 crore.
The company will also engage in design, engineering, Procurement, manufacture/ fabrication of coal handling plant at Talabira II & III mine at Sambhalpur dist., Jharsuguda, Odisha for HOWE, amounting to Rs 80.17 crore.
On a consolidated basis, the company reported net profit of Rs 27.05 crore in Q2 September 2021 as against net loss of Rs 55.11 crore in Q2 September 2020. Net sales rose 56.2% to Rs 539.33 crore in Q2 September 2021 over Q2 September 2020.
Shares of Power Mech Projects lost 0.62% to Rs 989.40 on BSE. Power Mech Projects operates as an engineering and construction company, which provides erection, testing and commissioning (ETC), civil and operation and maintenance services for power projects.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.