The shares of one of India’s leading solar energy solution providers gained up to 7.5 percent to Rs 339.50 a share after the company received a 7.409 MWp solar power project from Govt Medical College & Hospitals Rajasthan.
At 2:22 p.m., Oriana Power Ltd shares were trading at Rs 338.90 on the National Stock Exchange, up 7.06 percent from the previous close price. The company is valued at Rs 650 crore on the stock exchange.
As per the company’s exchange filing, Oriana Power received an order from Govt Medical College & Hospitals Rajasthan for its associate company OPWR DEL SPV Pvt ltd for an order aggregating to 3.240 MWp and its subsidiary company TRUERE SPV Pvt Ltd received orders aggregating to 4.169 MWp solar power plant which is aggregating to 7.409 MWp Under RESCO(Renewable Energy Service Company) segment of the company.
The company revenue has increased by 9.6 percent yearly, from Rs 124 crore in Q1FY23 to Rs 136 crore in Q1FY24. In the same time frame, the company’s net profit climbed by 57 percent, from Rs 7 crore to Rs 11 crore.
In the recent financial year, Oriana Power reported a net profit margin of 8.02 percent and an operating margin of 14.6 percent. Similarly, the return on equity is 46.13 percent, and the return on capital employed at 26.89percent.
Oriana Power Limited provides solar energy solutions to industrial and commercial customers.
Written by Omkar Chitnis
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