KP Energy spurts on bagging a contract worth Rs. 120 cr in Gujarat.

KP Energy advanced 4.18% to Rs. 106 after the company secured a letter of intent (LOI) worth Rs. 119.73 crore from customers in Gujarat for executing wind power project under the wind power policy 2016, expiring on 31 March 2022.

KP Energy has operational site of 70 MW (mega-watt) at Mahuva-I, in Bhavnagar, Gujarat. The company had spare capacity available for utilization of Power Evacuation Infrastructure. The said order will be executed within the current financial year. KP Energy expects to complete the execution of project, ahead of its schedule, as per the company's press statement.

KP Energy's consolidated net profit jumped 51.6% to Rs. 1.41 crore on a 180.6% surge in net sales to Rs. 20.26 crore in Q1 FY22 over Q1 FY21.

The scrip extended 8.21% gains in three consecutive trading sessions since Thursday, 16 September 2021. K.P. Energy is engaged in the business of windmill infrastructure development. The company provides a range of solutions from concept till completion of the project life-cycle of a wind project.

BS