KPI Energy up 4%

KPI Green Energy announced that its wholly owned subsidiary, Sun Drops Energia Private Limited, received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW under the ‘Captive Power Producer (CPP)’ business segment of the company.

The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.

No financial details of the order were given.

The company had ended Q1FY25 with a 98%(YoY) jump in net profit at Rs.66 crore on a 84% rise in revenue from operations at Rs.348 crore. The company also declared its first interim dividend at Rs.0.20/share.

The company undertakes the complete lifecycle of solar and wind solar hybrid power projects and sells under the band name of ‘Solarism.’

On the back of a good surge in volumes, the stock opened 1.5% higher at Rs.919.90 and went up to an intraday high at Rs.943, a rise of 4%. Its 52-week high is at Rs.1116.