The said order was received from UK Grid Solutions and it is to be executed from December 2023 till October 2026.

“Both entities are part of GE group and this related party transaction has been approved by shareholders in last annual general meeting held on 21 August 2023,” the company stated in the press release.

GE T&D India is a leading player in the power transmission and distribution business. The company provides solutions for connecting and evacuating power from generations sources onto the grid.

The company reported a net profit of Rs 37.17 crore in Q2 FY24, steeply higher than Rs 7.07 crore posted in Q2 FY23. Net sales declined marginally to Rs 697.76 crore during the quarter from Rs 700.57 crore recorded in Q2 FY23.

The scrip hit 52-week high of Rs 503.35 in today’s intraday session.