The announcement was made after market hours yesterday.

Kalpataru Projects International is a leading player in the domestic transmission and distribution (T&D) sector. The company undertakes turnkey contracts for setting up transmission lines and substations for extra-high-voltage power transmission. Over the years, it has diversified into civil contracts, railways, and oil and gas pipeline construction.

For the financial year ended 31 March 2023, KPIL reported a profit after tax of Rs 532 crore on an revenue of Rs 14,446 crore against Rs 330 crore and Rs 12,407 crore, respectively, for the corresponding period of the previous fiscal.

The scrip rose 1.39% to end at Rs 535.60 on the BSE yesterday.