This new order in addition to previous orders worth approximately Rs 33.4 crore, aggregating to the tune of approximately Rs 48.1 crore.

"These orders will further strengthen RSTL's order book and credibility in the market," the company said in a statement.

Richi Bansal, executive director, Rama Steel Tubes, said "We are proud to announce that the company has received additional orders under Jal Jeevan Mission Project in India.

RSTL has been associated many State Corporations, even in the past and we celebrate our long-standing relationship with them. These orders will help us in achieving our targeted revenues at a slightly faster rate than what we had anticipated."

Rama Steel Tubes is manufacturers of steel pipes and tubes.

The company's consolidated net profit declined 40.42% to Rs 4.23 crore despite a 73.55% rise in sales to Rs 240.02 crore in Q1 FY23 over Q1 FY22.