KPI Green Energy shares locked in 5% upper circuit on bagging solar power project

The company posted a 47 percent rise in consolidated net profit to Rs 50.60 crore in the December quarter

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KPI Green Energy share price was locked in a 5 percent upper circuit in the early trade on February 16 after the company’s subsidiary bagged a 1.5 MW solar power project.

At 9.24 am, KPI Green Energy was quoting at Rs 1,479.15, up Rs 70.40, or 5 percent, on the BSE.

There were pending buy orders of 65,533 shares, with no sellers available.

KPIG Energia Private Limited, a wholly owned subsidiary of the company, received new order of 1.5 MW for executing solar power project under ‘Captive Power Producer (CPP) segment Pruthvi Textile. The project is to be completed in the financial year 2024-25.

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Earlier in this month, the subsidiary bagged an order for 15 MW solar power project from Aether Industries.

In January, the subsidiary received new order of 5 MW from Skywin Paper Industries Private Limited and 5.60 MW from Shree Varudi Paper Mill LLP.

The company posted a 47 percent rise in consolidated net profit at Rs 50.60 crore in the December quarter, while revenue surged to Rs 331.32 crore.

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