Hot Pursuit     12-Jun-23
SEPC soars on conclusion of $236 million project in Iraq
SEPC jumped 4.92% to Rs 8.10 after the company announced the completion of the Integrated Al Qibla Project in Basra, Iraq, for $236 million.

The scope of work involved engineering, supply, installation of primary sanitary sewer system, storm sewer system, trunk sewer system with connected pumping station and road works.

"This will enable SEPC to participate in International tenders of Contracts value up to $500 million and also open up new markets in GCC countries and others,” the company said in a statement.

Chennai-based SEPC (Shriram EPC) specializes in executing EPC contracts, providing integrated solutions encompassing design, engineering, procurement, construction and project management services. The company's services are primarily spread across municipal services, process & metallurgy, power and mineral processing segments.

The company reported a consolidated net loss of Rs 20.15 crore in the quarter ended March 2023 as against net loss of Rs 135.35 crore during the previous quarter ended March 2022. Sales rose 53.95% to Rs 142.23 crore in Q4 FY23 over Q4 FY22.

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