Skipper Ltd, a leading manufacturer of power transmission and distribution structures, on Sunday, said it has secured an order worth ₹737 crore from Power Grid Corporation of India Ltd (PGCIL) for the design, supply and construction of a cutting-edge 765 kV transmission line for the central PSU.
Skipper director Sharan Bansal expressed enthusiasm about this latest achievement in the power transmission and distribution sector, emphasising the company's optimistic outlook on the industry.
He highlighted the substantial boost to Skipper's order book in the transmission and distribution landscape, with the year-to-date order intake exceeding ₹3,900 crore.
"The orders from PGCIL have notably bolstered our order book in the transmission and distribution (T&D) landscape. With a year-to-date order intake surpassing ₹3,900 crore, these recent victories are poised to significantly contribute to our envisioned growth trajectory in the foreseeable future," he said.
The company, which is also into polymer, had announced a 115% jump in consolidated net profit to ₹20.4 crore for the third quarter ended December 2023, up from ₹9.5 crore registered in the same period of last year.
Revenue also surged by 80% during the quarter to ₹801 crore, attributed to robust execution and a strong order book, he said. Bansal said, "The order bidding pipeline also remains robust, with a substantial international pipeline of ₹9,830 crore and a domestic pipeline of ₹5,200 crore."
First Published: Feb 25, 2024 8:35 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP replaces Poonam Mahajan with lawyer Ujjwal Nikam for Mumbai North Central Lok Sabha seat
Apr 27, 2024 7:53 PM
Meet Amritpal Singh, the separatist leader contesting Lok Sabha polls from Punjab's Khadoor Sahib
Apr 27, 2024 7:18 PM