Techno Electric sizzles on bagging orders

Techno Electric & Engineering Company rose 3.90% to Rs 311.50 after the company announced that it has received orders of Rs 700 crore.

The order includes setting up 2.5 lakh smart meters in Jammu & Kashmir on design build finance own operate transfer (DBFOOT) basis worth Rs 338 crore from REC power development and consultancy (RECPDCL).

Further, the company also bagged GOA Tamanar Transmission Project worth Rs 126 crore and Tripura State Electricity Corporation transmission project worth Rs 230 crore.

Techno Electric & Engineering provides engineering, procurement and construction servicesto the three segments of power sector including generation, transmission and distribution.

 

The company's consolidated net profit declined 9.3% to Rs 58.81 crore on 16.6% decrease in net sales of Rs 228.03 crore in Q2 FY23 over Q2 FY22.

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