Deep Industries wins order from GSPC

Deep Industries wins order from GSPC

Shares of Deep Industries rose over 12% in intraday trade to Rs 162.8 apiece on receiving a letter of award from GSPC LNG worth Rs 44.4 crore.
The order pertained to the hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat for a period of five years.
The latest development comes on the back of the company bagging an order from Vedanta worth Rs 83.53 crore earlier this month.

On December 17, Deep Industries received a letter of award (LoA) from Vedanta for its Integrated Oil & Gas facility to be placed in a single well pad at Jaya Field in Cambay Oalp Block –along with its operation and maintenance for a period of 3 years- for a total estimated value of approximately Rs 83.53 crore.
In the July-September quarter, Deep Industries’ net profit clocked in at Rs 21.33 crore as against a net loss of Rs 2.04 crore the same period a year ago.
The company’s net sales were at Rs 91.27 crore in July-September 2021, marking a 95.9% growth from Rs 46.60 crore over the same period a year ago.

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