Oriana Power surges after securing Rs 2.48 billion order from BPCL

Shares of Oriana Power rose 5% to 2,193.15 rupees after the company secured an order worth 2.47 billion rupees for the implementation of a 52 MW solar power project from Bharat Petroleum Corporation (BPCL).

The company will develop the project for the customer under the EPC segment, which includes obtaining CTU approval, setting up transmission lines and providing operations and maintenance (O&M) services for five years. The project is to be completed within six months and the order is valued at Rs 2.47 billion.

Oriana Power specializes in providing solar energy solutions to industrial and commercial customers. The company offers both on-site solar installations, such as rooftop and ground-mounted systems, and off-site solar farms.

For FY24, Oriana Power reported a consolidated net profit of Rs 540.35 million, up significantly from Rs 100.56 million in FY23. Net sales for FY24 reached Rs 3.82 billion, growing 184.2 percent year-on-year.

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