KPI Green Energy Shares Hit Upper Circuit After 68.3% Rise In Q3 Net Profit
KPI Green Energy Ltd.'s share price surged by 5% to hit the upper circuit limit on Thursday, following the announcement of its third-quarter earnings. The company's financial performance for the third quarter registered year-on-year growth.
KPI Green Energy reported an increase in revenue, which rose by 38.8% to Rs 458 crore from Rs 330 crore. The growth reflects the company's strong market presence and effective business strategies.
The company's Ebitda also saw a positive uptick, increasing by 32.2% to Rs 137 crore from Rs 104 crore. However, the Ebitda margin experienced a slight decline, settling at 29.9% compared to the previous year's 31.4%.
Net profit for the quarter surged by 68.3%, reaching Rs 85.2 crore from Rs 50.6 crore.
KPI Green Energy Ltd., established in 2008, is a prominent renewable energy company based in Surat, Gujarat. It specialises in the development, construction, and operation of solar power projects under the brand name Solarism. As part of the KP Group, KPI Green Energy focuses on providing sustainable and reliable energy solutions. The company operates both as an Independent Power Producer and a service provider to Captive Power Producers.
KPI Green Energy Share Price
The scrip rose as much as 4.99% to Rs 452 apiece. It pared gains to trade at the same level as of 11:19 a.m. This compares to a 0.37% decline in the NSE Nifty 50.
It has fallen 11.62% in the last 12 months. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 57.
One analyst tracking the company maintains a 'buy' rating on the stock according to Bloomberg data.
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