Shares of Genus Power Infrastructures hit a 5% upper circuit today, reaching a new high of ₹428 each. This surge happened after the company announced that its subsidiary secured three major orders totaling ₹3,608.52 crore. These orders involve setting up advanced metering systems, including the supply and installation of around 4.26 million smart prepaid meters.
With this win, Genus Power’s total order book has jumped to ₹28,000 crore, giving the company strong future revenue potential.
Jitendra Kumar Agarwal, Joint Managing Director of Genus Power, expressed pride in the company’s achievement and highlighted the trust clients have in their services. He noted that these long-term orders, lasting 8 to 10 years, will support the company’s growth in the coming years.
This is the second big order for the company in less than a week, following another win worth ₹2,925 crore.
In the June quarter, Genus Power showed strong financial performance, with a 59% revenue increase to ₹414.2 crore, largely driven by smart metering orders. The company’s profit also rose by 120%, reaching ₹42.4 crore, despite some challenges related to seasonal variations and election delays.
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