Power Mech Projects advanced 2.20% to Rs. 571.75 after the company said it received a letter of intent from The Singareni Collieries Company for a contract worth Rs. 343.44 crore.
The contract is for the operations and maintainence of 2x660 Singareni Thermal Power Plant (STPP).
STPP is a coal-fired power station in Pegadapalli, a village in Telangana, India.
On a consolidated basis, Power Mech Projects net profit declined 91.3% to Rs. 3.15 crore on 6.8% fall in net sales to Rs. 508.49 crore in Q3 FY21 over Q3 FY20.
Power Mech Projects operates as an engineering and construction company, which provides erection, testing and commissioning (ETC), civil and operation and maintenance services for power projects.
BS
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