Power Mech Projects Secures ₹306 Crore Rail Contract, Shares Surges

15 Mar 2024 , 03:26 PM

Power Mech Projects Ltd’s shares surge over 4% following a ₹306 Crore work order from South East Central Railway. The company receives the order on an engineering, procurement, and construction (EPC) basis, amounting to ₹305.81 Crore.

The work involves constructing an electrified 4th Railway BG line between Rajnandgaon-Dongargarha and Bhilai-Durg link block stations in Chhattisgarh.

Contract categorized under ‘Execution of Civil Construction and Electrical Works’, with a 30-month execution period. Consolidated net profit for Power Mech Projects sees a robust 21.53% YoY growth to ₹61.5 Crore in Q3 FY24.

Consolidated net sales also rise by 21.8% YoY to ₹1,107.5 Crore in Q3 FY24. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increase by 34% YoY to ₹141.3 Crore in Q3 FY24.

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