Repeat orders are secured by KPI Green Energy for a 2.70 MW solar project

7 Nov 2023 , 02:44 PM

Tuesday saw the acquisition of repeat orders by KPI Green Energy under the captive power producer (CPP) category, totaling 2.70 MW of solar electricity.

‘We are glad to inform you that the KPI Green Energy Limited has received repeat orders for 2.70 MW for executing solar power projects under the ‘Captive Power Producer (CPP)’ Segment of the Company,’ the business stated in an exchange filing.

Under the company’s CPP segment, the total orders for solar power projects have exceeded 115 MW thus far.

According to the terms of the order, the projects are anticipated to be finished in phases during the 2023–2024 fiscal year, the statement continued.

Compared to Rs 21.2 crore in the same quarter of the previous fiscal year, KPI Green’s consolidated profit increased by 64% to Rs 34.7 crore in the September quarter (Q2 FY24). From Rs 160 crore in the same quarter last year to Rs 215 crore this quarter, its operating revenue increased by more than 34%.

Earnings before interest, tax, depreciation, and amortisation (EBITDA), commonly referred to as operating profit, increased by 35% yearly to Rs 71 crore in Q2FY24 from Rs 53 crore in the corresponding quarter of the previous year. In the meantime, its operating margin increased slightly in Q2 to 33.08 percent from 33.01% in the same quarter of the previous fiscal year.

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