Likhitha Infrastructure, on Thursday, July 20, bagged an order from Gail Limited for Rs 235.50 crore. The order is regarding laying a cross-country pipeline along with composite works for Phase-2 (Salem to Coimbatore Pipeline section of KKBMPL -II Project).

The order is to be executed within 15 months of acceptance.

Before this, in February, Likhitha Infrastructure had announced bagging order worth Rs 129.63 crore from Gail Limited for laying a cross-country gas pipeline and composite works from Nagpur to Jharsuguda under the MNJPL project.

The aforementioned project is to be executed within 14 months from the date of the Letter of Intent.

During Q4FY23, the company posted a 16.7% increase in Net profit at Rs 16.73 crore. The company’s net sales were at Rs 117.25 crore, up 50.15% from Rs 78.09 for the previous year.

The shares touched a 52-week high of Rs 315.70 on May 12 2023, and a 52-week low of Rs 132.80 on August 22 2022.

At 12:30 pm, the share was trading at Rs 296.70 or 6.27%, up from its previous close.