Jyoti Structures wins USD 15 mn order from ESKOM; shines on bourses
DSIJ Intelligence / 21 Dec 2016
Jyoti Structures has bagged an order of USD 15 million (Rs 101.85 crore) from the South African utility ESKOM, for supply of towers and construction of 765 and 400 kV Masa Ngwedi transmission line Sec C.
Jyoti Structures has bagged an order of USD 15 million (Rs 101.85 crore) from the South African utility ESKOM, for supply of towers and construction of 765 and 400 kV Masa Ngwedi transmission line Sec C.
Jyoti Structures will execute the order in 18 months. The project has been funded by the World Bank. The company is currently executing three contracts for ESKOM in South Africa with a total value of about USD 80 million (Rs 543 crore). Previously, the company had completed three major projects for the same client.
As for the financials, the company's revenue has declined 31.42 per cent to Rs 271 crore in Q2FY17 as compared to the same period in the previous financial year. The company’s operating loss increased to Rs 77.98 crore in Q2FY17 as compared to the operating loss of Rs 26 crore in Q2FY16. Its net loss has almost doubled to Rs 272 crore in Q2FY17 on a yearly basis.
The share price of Jyoti Structure increased by 15.6 per cent on the bourses in early trades and is trading at Rs 11.11 on intraday basis.
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