Gensol Engineering Shares Surge 5% on Record Revenue
Apr 03, 2024 12:08
Gensol Engineering shares hit the upper circuit, rising 5% after the company reported record revenue of Rs 960 crore in FY24. The stock's surge was driven by strong financial performance.
Photograph: Danish Siddiqui/Reuters
New Delhi, Apr 3 (PTI) Shares of Gensol Engineering jumped 5 per cent in the morning session on Wednesday to hit the maximum permissible limit for the day, after the company said it has recorded the highest-ever revenue of Rs 960 crore in FY24.
The stock of the company hit the upper circuit and climbed 5 per cent each on BSE and NSE to touch Rs 948.95 and 948.25 apiece, respectively.
In the morning trade, the 30-share BSE Sensex went up 37.42 points or 0.05 per cent to 73,941.33, while NSE Nifty rose 7.20 points or 0.03 per cent to 22,460.50.
In a regulatory filing on Wednesday, Gensol Engineering said it has recorded the highest-ever revenue of Rs 960 crore in FY24 with a growth of 141 per cent year-on-year.
The corresponding (revenue) figure for the previous year was at Rs 398 crore, the company said.
According to the filing, Gensol Engineering Ltd recorded its highest-ever revenue from operations, surpassing Rs 960 crore (provisional and unaudited) in the financial year ending March 31, 2024.
This represents a growth rate of 141 per cent compared to the previous financial year, it added.
Established in 2012, Gensol Engineering Ltd is a part of the Gensol group of companies, which offers Engineering, Procurement, and Construction (EPC) services for the development of solar power plants.
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