Genus Power Wins Orders Worth Over Rs 3,600 Crore

Genus Power Infrastructures Ltd. received three letters of award on Tuesday for projects worth Rs 3,608.5 crore, according to an exchange filing on Tuesday.

The developer of smart metering solutions received letters of award for the appointment of advanced metering infrastructure service providers, including the design of advanced metering infrastructure systems. The orders also include supply, installation and commission with an FMS of 4.26 million smart prepaid meters and system meters, including DT meters, with corresponding energy accounting on a DBFOOT basis, it said.

"With these recent orders, our total order book, including all SPVs and the GIC Platform, stands at about Rs 28,000 crore," Joint Managing Director Jitendra Agarwal said.

GPIL's net profit jumped over twofold to Rs 42.4 crore in the June quarter. Its net profit was Rs 19.3 crore in the same period of the last financial year. Revenue rose 59% to Rs 414.2 crore from Rs 261.1 crore in the year-ago period.

Shares of GPIL closed 2.3% higher at Rs 416.95 apiece on the NSE, compared to a 0.51% advance in the benchmark Nifty. The share price has risen 95.02% in the last 12 months and 78.57% on a year-to-date basis.