Shakti Pumps spurts on securing order from Uganda

Shakti Pumps (India) rallies 4.36% to Rs 554.20 after the company said it bagged a $35.30 million order from the Government of Uganda for supplying solar-powered water pumping systems.

The company has secured a contract from the Government of Uganda represented by the Ministry of Water and Environment for supplying solar-powered water pumping systems at a contract price of $3,53,00,000.

On a consolidated basis, Shakti Pumps (India) reported a net profit of Rs 26.53 crore in Q3 FY21 as compared with a net loss of Rs 8.70 crore in Q3 FY20. Net sales surged 239.50% to Rs 316.66 crore in the third quarter from Rs 93.28 crore in the same period last year.

Shakti Pumps (India) is a manufacturer and exporter of stainless-steel water pumps, motors and solar pumps.

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