Shakti Pumps Q2 Profit Rises to Rs 6 Crore | PTI

New Delhi, Nov 4 (PTI) Shakti Pumps (India) Ltd has reported a rise in consolidated net profit to Rs 5.9 crore in the September quarter, aided by reduced expenses.

It had clocked Rs 1.90 crore net profit in the year-ago period, the company said in a regulatory filing on Friday.

The company's total income fell to Rs 153.53 crore over Rs 217 crore in the year-ago quarter.

Its expenses trimmed to Rs 146.16 crore from Rs 214.33 crore in July-September period of the last financial year.

In a separate statement, Shakti Pumps (India) Ltd Chairman Dinesh Patidar said, "Under the PM-KUSUM scheme, we received two orders for 17,781 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) amounting to Rs 651 crore cumulatively (from Haryana Renewable Energy Department and Department of Agriculture, UP)."

The company has also a letter of empanelment for 50,000 SPWPS pumps amounting to Rs 1,603 crore from the Maharashtra State Electricity Distribution Company Ltd.

"We also received an order from Ajmer Vidyut Vitran Nigam Ltd for the implementation of 3,011 Grid Connected Solar Water Pumping Systems for Rs 149.7 crore," he said.