Investors in the power sector are taking note of HPL Electric & Power Ltd's impressive financial performance in Q3 FY24. The company reported an 87.14% increase in net profit and robust revenue growth. HPL Electric & Power's success can be attributed to its focus on innovation and a strong product portfolio, particularly in the smart meter market. With a 20% market share in the domestic meters market and an installed capacity of 1.1 crore meters per year, the company is positioned as a market leader in India's power sector [599d6e80].
In Q3 FY24, HPL Electric & Power's consolidated net profit reached 119.4 million rupees, marking a significant increase compared to the previous quarter. The company's revenue from operations also demonstrated strong growth, reaching 3.66 billion rupees, a 21.22% increase. The company's current order book stands at over Rs 2,400 crore, with smart meters comprising 87% of the current meter order book. This highlights the company's strength and dominance in the smart meter market [599d6e80].
HPL Electric & Power's success in the power sector is a result of its commitment to innovation and a strong product portfolio. The company's focus on the smart meter market has positioned it as a market leader, with a 20% market share in the domestic meters market. With an installed capacity of 1.1 crore meters per year, HPL Electric & Power is well-equipped to meet the challenges of the future and remain a beacon of success in the electrical equipment industry [599d6e80].
Tiger Logistics (India) Ltd, a prominent logistics company in India, has announced a 1:10 stock split following strong financial results and a landmark project win from HPCL [f84eff4a]. The stock split is scheduled to take place on March 4, 2024. Tiger Logistics reported a revenue of Rs 51.95 crore and a profit of Rs 3.6 crore for the quarter ended December 31, 2023. The company's Managing Director, Harpreet Singh Malhotra, expressed enthusiasm over the successful bid for the HPCL project. Tiger Logistics has seen impressive returns over the past few months, with a 127% return over the last six months, a 43% gain in the past three months, a 113% gain in the last year, and a 239% gain over the past two years. The collaboration with HPCL marks Tiger Logistics' entry into the petro segment. The company's expertise in managing logistics projects across borders has contributed to its success. The stock split and project win set a strong foundation for Tiger Logistics' future growth and expansion [f84eff4a].