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Hot Pursuit
20-Dec-24
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KPI Green Energy gains on inking MoU with Rajasthan Govt
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KPI Green Energy added 3.71% to Rs 791.70 after the company has signed a memorandum of understanding (MoU) with the Government of Rajasthan for the development of Hybrid, Solar & Wind Power Projects in Jaisalmer (Ramgarh), Rajasthan.
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The government of Rajasthan would facilitate the Organisation/company to obtain necessary permissions, clearances, etc. from concerned departments of the state as per the existing policies, rules, and regulations of the state government.
By signing this MOU, the company will demonstrate its mutual commitment to the growth of the renewable energy sector and our vision for a sustainable, clean energy future.
Additionally, KPI Green has announced January 3 as the record date to determine the eligibility of shareholders for its proposed bonus issue of equity shares. The bonus shares will be issued in the ratio of one equity share of Rs 5 face value for every two existing shares held. KPI Green’s board had initially recommended the bonus issue on November 14.
KPI Green Energy develops and maintains grid-connected solar power projects and sells power units generated from the company's solar plants.
The company’s consolidated net profit surged 98.76% to Rs 66.11 crore in Q1 FY25 as compared to Rs 33.26 crore recorded in Q1 FY24. Revenue from operations climbed 83.78% year on year (YoY) to Rs 348.01 crore in Q1 FY25.
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