HPL Electric and Power, on Tuesday said that it has bagged a smart meter order worth Rs 409.10 crore from an institutional customer from the Western part of India.
The Noida-headquartered firm currently has an order book of over Rs 1,200 crore as of February 27, 2023.
On winning the order, Gautam Seth, Joint MD at HPL Electric and Power said, “We are fully equipped to cater to larger discoms and service providers in the Indian market and are excited to continue growing our order books.”
This order win signifies a positive outlook for HPL Electric and Power, indicating sustainability and growth in the long term, the company added.
Earlier this month, HPL Electric & Power reported its December quarter earnings. The company’s profit fell over 40 percent to Rs 6.4 crore against Rs 9 crore in the same quarter last year. However, the revenue surged by nearly 8 percent at Rs 301.6 crore as compare to Rs 280 crore in the same quarter last year.
Last year in December, the company bagged an order of Rs 161 crore.
Shares of HPL Electric and Power are up 4.9 percent to Rs 84.55.. The stock has remained flat in the last one week and was down 11.83 percent in the past month.
(Edited by : Hormaz Fatakia)
