Board approves Q1 results, QIP of up to Rs 150 Cr
PRABHA · price
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Board approved Q1 FY27 results showing net profit of Rs 29.44 Lakhs versus a loss of Rs 26.50 Lakhs year-on-year on revenue of Rs 169.27 Lakhs. Also approved raising up to Rs 150 Crores via QIP of equity shares. Re-appointed Executive Director Prem Singh Sawhney for 3 years and Independent Director Shaily Dedhia for a second 5 year term.
Return to profitability is positive. QIP of up to Rs 150 Cr will dilute existing shareholders but strengthen capital for oil and gas growth.