Ramky Infrastructure shares surge 7% after bagging two contracts from PowerGrid Energy Services

This includes an order for the supply of a “plant contract for Loss Reduction work under the Revamped Distribution Sector Scheme (RDSS)” in the Leh district under the Ladakh Power Development Department (LPDD).

The civil construction company's second contract is for providing installation services under RDSS in Leh District as part of the infrastructure works of LPDD. The broad consideration for the project is ₹23.8 crore.

Ramky Infrastructure Limited announced its financial results for the financial year ending March 31, 2024, on May 29. The company reported a marginal gain of 1% in its consolidated revenue from operations for the March quarter of FY24.

The company reported revenue of ₹581.19 crore during the period under review compared to ₹576.43 crore in Q4 FY23. The net profit for the quarter ended March 31 of FY24 declined nearly 95% to ₹57.5 crore from ₹1,077.8 crore in the preceding fiscal.

Ramky Infrastructure’s revenue from operations for the full fiscal year ended March 31 grew over 27% to ₹2,160.5 crore compared to ₹1,705.12 crore in the preceding fiscal year. The net profit for FY24 fell 72% to ₹321.07 crore compared to ₹1,152.6 crore in FY23.

Shares of Ramky Infrastructure Ltd. closed at ₹577.50 apiece on the NSE, up 2.56% on June 27.

Part of the Ramky Group, Ramky Infrastructure Limited has completed a wide range of construction and infrastructure projects in sectors such as water and wastewater, transportation (including terminals), irrigation, and industrial construction (including SEZs & industrial parks).