RBM Infracon Secures Service Order Worth Rs 3,498 crore From ONGC
RBM Infracon Ltd. announced on Friday that the company has received a service order worth Rs 3,498 crore from Oil and Natural Gas Corp.
The order includes Rs 3,371 crore for crude and Rs 127 crore for gas at Nandej, according to an exchange filing.
The order, dated Sept. 6, has a validity period of 15 years or 180 months from the effective date.
Earlier, on Aug. 30, Oil and Natural Gas Corp. had announced plans to grow its green energy portfolio via its wholly-owned subsidiary ONGC Green Ltd. to 10 gigawatts by fiscal 2030.
The company had incorporated ONGC Green on Feb. 27 with an authorised capital of Rs 100 crore and subscribed and paid-up capital of Rs 1 crore.
Net profit of RBM Infracon rose 250% to Rs 3.29 crore in the quarter ended June 2024, as against Rs 0.94 crore during the previous fiscal's similar period.
Shares of RBM Infracon closed 0.49% higher at Rs 766 per share, compared to a 1.17% advance in the NSE Nifty.
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