Oriana Power’s shares soared to a 5% upper circuit limit at Rs 2,193.15 after the company secured a significant order from Bharat Petroleum Corporation (BPCL). The Rs 2.47 billion contract involves the execution of a 52-MW solar power project, marking a major milestone for Oriana Power.
The scope of the project includes obtaining approval from the Central Transmission Utility (CTU), establishing transmission lines, and providing operation and maintenance (O&M) services for the next five years. The project is expected to be completed within six months, further boosting Oriana Power’s profile in the renewable energy sector.
Specializing in solar energy solutions, Oriana Power caters to both industrial and commercial clients. The company offers a range of services, including on-site solar installations—such as rooftop and ground-mounted systems—and off-site solar farms.
For the fiscal year 2024, Oriana Power reported a substantial increase in its financial performance. The company’s consolidated net profit reached Rs 540.35 million, a significant rise from Rs 100.56 million in the previous fiscal year. Additionally, net sales for FY24 surged to Rs 3.82 billion, reflecting a remarkable 184.2% growth year-on-year.
