Mehai Technology shares hit a 5% upper circuit on 22 December after the company announced receiving four orders from the Government of West Bengal.

In its regulatory filing, the company said that it had received four orders from the Public Health Engineering Directorate, Government of West Bengal, Alipore Division, for a total consideration of Rs 78.7 lakh.

The orders are for deep replacement tube wells with a diameter of 250mm x 150mm and a depth of 360 meters in various locations in the state and have to be executed within 30 days from the date of commencement.

In its quarterly report for July-September, the company reported a 666% year-on-year increase in its net profit to Rs 0.23 crore from Rs 0.03 crore reported in the same quarter last year.

The revenue during the quarter stood at Rs 3.8 crore, which is a 524% YoY increase from Rs 0.6 crore reported in the same quarter of the previous fiscal year.

As of 30 September, the promoters of the company hold a 52% stake in the company, whereas the public owns a 47% stake in the company.

At 3:30 pm, the shares of Mehai Technology closed 0.69% higher at Rs 29.33 on BSE.