KP Energy locked at 5% upper circuit on 9-MW wind power project contract

KP Energy Share Price | The company posted 60.78 percent jump in its Q4FY24 net profit at Rs 24.89 crore.

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Shares of KP Energy were locked at 5 percent upper circuit in early trade on April 23 after the company received a wind power project development contract.

There were pending buy orders of 311,029 shares, with no sellers available.

“KP Energy has received new order for development of 9MW wind power project forming part of the wind-solar hybrid power project to be developed in Gujarat,” the company said in a release.

This project is awarded by Bhathwari Technologies Private Limited under captive power project segment and shall be connected to state transmission utility (STU) network. It includes both supply and service for development of the project on turnkey basis. The project is scheduled to be completed in the financial year 2024-25.

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The company has posted 60.78 percent jump in its Q4FY24 net profit at Rs 24.89 crore against Rs 15.48 crore in the same quarter last fiscal. Its revenue was up 39.6 percent at Rs 207.26 crore against Rs 148.44 crore.