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KP Energy share price was locked in 5% upper circuit on Tuesday's session after receiving a contract for the development of a wind power project. KP Energy share price opened at ₹409.85 apiece on BSE. KP Energy share price rose 552.94% and outperformed its sector by 425.4% in the past year, as per trendlyne data. The solar energy firm stated in its exchange filing that it has received a fresh order from Bhathwari Technologies Pvt Ltd for the building of a 9MW wind power project. This project is a component of the wind-solar hybrid power project that will be created in Gujarat. This project is part of the State Transmission Utility (STU) network and falls in under the Captive Power Project section. The project is expected to be finished in the fiscal year 2024-2025 and involves both supplies and services for turnkey project development. Also Read: Bajaj Finance share price correction provides attractive entry point, says Emkay Global; sees 23% upside "Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! Further, on the earnings front, there was an increase of almost 61% in the consolidated net profit for the quarter that ended in March (Q4FY24) compared to ₹15.48 crore in Q4FY23. Consolidated net profit for the year ended March 31, 2024, valued at ₹58.32 crores, represented an increase of about 33% over the equivalent year ended March 31, 2023. As to the exchange filing, the company saw its highest-ever bottom line in FY 2023-2024. The company stated in an exchange filing that it generated ₹200.80 crores in revenue from the EPC sector in Q4FY24, up almost 40% from the consolidated revenue of ₹143.47 crores in Q4FY23. The company's revenue from the EPC segment for FY24 was ₹450.69 crores. Also Read: Tejas Networks shares zoom over 15% on Q4 profit surge, hit new all-time high The reported diluted EPS of the company has enhanced from ₹6.57 in FY23 to ₹8.73 in FY24, according to the exchange filing. KP Energy's core business activities include the construction of wind farms, the creation of wind power projects and related services, the production of electricity using wind power producing assets, and the operation and maintenance services of wind power projects, mostly in India. Also Read: Vijay Kedia picks up stake despite LIC booking profit in Anil Ambani-led Reliance Infra during Q4FY24 Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions. Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed - it's all here, just a click away! Login Now!
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Published: 23 Apr 2024, 11:23 AM IST
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