Skipper wins Rs 737 crore order from Power Grid

Order win: Leading manufacturers for power transmission and distribution structures Skipper Limited has secured an order worth Rs 737 crore from Power Grid Corporation of India Limited (PGCIL), the company said on Sunday.

The order is for the design, supply and construction of a cutting-edge 765 kV transmission line for the central PSU.

Director of the company Sharan Bansal expressed his enthusiasm on the latest achievement in the power transmission and distribution sector and the optimistic outlook of his company on the industry.

The substantial boost to Skipper's order book in the transmission and distribution landscape, he highlighted, with the year-to-date order intake exceeding Rs 3,900 crore.

"The orders from PGCIL have notably bolstered our order book in the transmission and distribution (T&D) landscape. With a year-to-date order intake surpassing Rs 3,900 crore, these recent victories are poised to significantly contribute to our envisioned growth trajectory in the foreseeable future," he said.

The company, that also deals in polymer operations, had announced a 115 per cent jump in consolidated net profit to Rs 20.4 crore for the third quarter ended December 2023, which was higher than Rs 9.5 crore it had registered in the same period of last year.

Revenue for the company also surged by 80 per cent during the quarter to Rs 801 crore, on the back of robust execution and a strong order book, he said.

Bansal said, "The order bidding pipeline also remains robust, with a substantial international pipeline of Rs 9,830 crore and a domestic pipeline of Rs 5,200 crore.”