Oriana Power surges after securing Rs 2.48 billion order from BPCL

05 Sep 2024 CW Team

Oriana Power's shares were locked in a 5% upper circuit at Rs 2,193.15 after the company secured an order valued at Rs 2.47 billion for the execution of a 52-MW solar power project from Bharat Petroleum Corporation (BPCL).

The company will develop the project for the customer under the EPC segment, which includes obtaining CTU approval, setting up transmission lines, and providing operation and maintenance (O&M) services for five years. The project is to be completed within six months, and the order is valued at Rs 2.47 billion.

Oriana Power specializes in providing solar energy solutions to industrial and commercial clients. The firm offers both on-site solar installations, such as rooftop and ground-mounted systems, as well as off-site solar farms.

For FY24, Oriana Power reported a consolidated net profit of Rs 540.35 million, a significant increase from Rs 100.56 million in FY23. Net sales for FY24 reached Rs 3.82 billion, marking a 184.2 per cent year-on-year growth.

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