Genus Power shares locked in 5% upper circuit after subsidiary bags orders worth ₹2,925 crore

Genus Power Infrastructures informed the exchanges in a filing on August 17 that the company’s wholly-owned subsidiary received three Letter of Awards (LOAs) aggregating ₹2,925.52 crore (net of taxes).

The company has received the order for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) and designing the Advanced Metering Infrastructure (AMI) system.

Additionally, the company will undertake the supply, installation, and commissioning of about 3.75 million smart prepaid meters and system meters, including Distribution Transformer Meters (DT Meters).

The company will also provide Facility Management Services for the smart meters. The project for the 3.75 million Smart Prepaid Meters will be undertaken on a Design-Build Finance Own-Operate Transfer (DBFOOT) basis.

Genus Power Infrastructures announced its financial results for the quarter ended June 30 of FY25 on July 27. The company’s consolidated total income for the June quarter of FY25 grew over 57% to ₹441.19 crore compared to ₹280.14 crore in the corresponding quarter of the preceding fiscal. Sequentially, the company’s total income increased over 1% from ₹435.75 crore in the March quarter of FY24.

The company’s consolidated net profit for Q1FY25 increased over 109% to ₹48.33 crore compared to ₹23.05 crore in Q1FY24. In Q1FY25, Genus Power’s consolidated net profit increased over 98% from ₹24.34 crore in Q4FY24.

Genus Power Infrastructures Ltd. provides electricity metering solutions and has an engineering, construction, and contracts (ECC) division. Its total installed capacity is over 10 million meters.

Shares of Genus Power Infrastructures have surged over 80% in the past one year and more than 77% so far this year. In the past six months, the stock has gained 53%, and in a month, the stock has climbed over 18%.