Shares of KPI Green Energy Ltd. rose by 1%, reaching a day’s high of Rs 902 on 3rd September, after its subsidiary secured solar power projects with a cumulative capacity of 7 MW under the captive power producer (CPP) segment.

The company’s fully-owned subsidiary, Sun Drops Energia Private Limited, secured Letters of Intent for solar energy projects from domestic entities Wolkem India Limited and Mahadev Texo Fab on 3rd September.

According to the company’s stock exchange filing today, Sun Drops Energia is scheduled to complete the projects within the ongoing financial year 2024-25. The orders will be executed in various tranches as per the terms, with the total order size amounting to 7 MW.

The company reported a significant rise in net profit for the quarter ended 30th June 2024, doubling to Rs 66.11 crore, a 99% increase compared to Rs 33.26 crore in the same period last year.

The company’s revenue for the June quarter of FY25 also saw an 83.6% year-over-year growth, rising to Rs 349.85 crore from Rs 190.56 crore in the same quarter last year.

The Board had approved an interim dividend of 0.20 paisa per equity share, with a face value of Rs 5 each, for FY25. The record date for the same was 21st August 2024.

At 3:19 PM, the shares of KPI Green Energy were trading 0.09% higher at Rs 887.40 on NSE.

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