26 Feb , 2024 By : Debdeep Gupta
Skipper shares jump 13% to record high on Rs 737-crore order, Skipper will design, supply, and construct a 765 kV transmission line project for Power Grid Corporation of India
Skipper shares surged 13 percent and hit an all-time high in early trade on February 26 after it signed a Rs 737-crore contract with Power Grid Corporation of India.
The power transmission & distribution structures manufacturer bagged the order for the design, supply, and construction of the 765 kV transmission line project.
At 10.40 am, Skipper was trading at Rs 372.75, up 5.4 percent on the National Stock Exchange (NSE). The shares touched a lifetime high of Rs 401 earlier in the session.
Sharan Bansal, director, of Skipper said, "We are pleased to share our
latest achievement in our power transmission and distribution business, reinforcing our optimistic stance on this sector. The steady stream of orders, from PGCIL, has notably strengthened our order book in India's Transmission and Distribution (T&D) domain."
On February 12, Skipper reported a 115 percent jump in consolidated net profit to Rs 20.4 crore for the third quarter ended December 2023 in the current fiscal, up from Rs 9.5 crore in the year-ago period.
The company reported an 80 percent increase in revenue to Rs 801 crore in the October-December quarter.
The company said for Q3 FY24, the order inflow was Rs 402 crore and for the year-to-date, the same was Rs 3,145 crore for engineering product supplies and EPC works.
Over the past six months, the share has risen around 80 percent as compared to a 14 percent rise in the benchmark Nifty.
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