Premier Energies edges higher after bagging supply orders worth Rs 1,460 crore

Premier Energies added 2.91% to Rs 1147.85 after the company announced that its subsidiaries have received and accepted multiple orders aggregating to Rs 1,460 crore from two large independent power producers (IPP) and others.

The subsidiaries of the company that have received orders are Premier Energies Global Environment, Premier Energies International and Premier Energies Photovoltaic.

The contract comprises of orders for supplying solar modules worth Rs 1041 crore and solar cells worth Rs 419 crore.

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications.

The companys consolidated net profit surged 289.6% to Rs 205.95 crore in Q2 FY25 as compared with Rs 52.86 crore in Q2 FY24. Net sales stood at Rs 1,527.22 crore, up 120.2% as compared with Rs 693.70 crore in Q2 FY24.

 

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