The shares of a leading solar energy solution provider rose around 4 percent to Rs 534.50 per share after the company received an order worth Rs 3.89 crore for executing solar power projects.
At 12:51 p.m., Oriana Power Limited shares were trading at Rs 503 per share, down 2.24 percent from the previous close price on the exchange. The company has a market capitalization of Rs 964 crore.
Oriana Power Limited has received orders aggregated to 1.18 MWp worth Rs. 3.89 Crores under the Engineering, Procurement, And Commissioning (EPC) segment for executing solar power projects.
The company’s total EPC order includes 0.530MW in the packaging industry and 0.650MW in the textile industry. The company reported in its exchange filing.
The company is to implement the Solar Rooftop Project in the Packaging Industry and a ground-mounted project in the textile industry. The EPC solar power project is scheduled to be completed in the financial year 2023-24.
In the first quarter of the ongoing financial year, Oriana Power Ltd received an order of Rs 138 crore from Bharat Coking Coal Limited (BCCL) to set up a 20MW AC ground-mounted solar photovoltaic power plant at Dugdha washery area, Dhanbad, Jharkhand.
The company’s revenues have jumped by 10 percent year on year from Rs 124 crore in FY 21-22 to Rs 136 crore in FY 22-23, while net profit has increased by 57 percent during the same period from Rs 7 crore to Rs 11 crore.
Oriana Power Ltd’s shares have gained 43.02 percent in the last months and 39.50 percent in three months.
As of the previous fiscal year, the company has implemented more than 70 solar projects in more than 25 locations across the country. While the company has delivered more than 100 MW of power.
Oriana Power Limited provides solar energy solutions to industrial and commercial customers. The company is involved in on-site solar project installations i.e., rooftop and ground-mounted systems, and off-site solar farms i.e. Open access.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
