HPL Electric wins ₹242 cr smart meter orders from GMR Group firms

HPL Electric & Power Ltd has secured new work orders worth ₹242.24 crore (inclusive of taxes) from multiple existing clients for the supply of smart meters, according to an exchange filing.The orders have been awarded by GMR Triveni Smart Meters, GMR Kashi Smart Meters, GMR Agra Smart Meters, Paschimanchal Infrastructure and Madhyanchal One Infrastructure, and will be executed as per the terms of the respective purchase orders. The company said the contracts are part of its normal course of business.

Q3 results
Separately, HPL Electric reported a healthy operating performance for the December quarter, with growth across revenue, profitability and margins on a year-on-year basis.
Net profit for Q3 rose 8.3% YoY to ₹19.5 crore, compared with ₹18 crore in the corresponding quarter last year, supported by improved operational efficiency.Revenue from operations increased 20.8% YoY to ₹474 crore from ₹392.5 crore, driven by higher sales volumes during the quarter.

At the operating level, EBITDA jumped 29% YoY to ₹72 crore from ₹55.7 crore, while EBITDA margins expanded to 15.2% from 14.2% a year ago, reflecting improved cost management and operating leverage.

Shares of HPL Electric & Power Ltd ended lower on Thursday, April 30, by 2.15% at ₹355.00 on the NSE.

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