HG Infra Engineering has received a Letter of Award (LoA) from NTPC Vidyut Vyapar Nigam Ltd under the tariff-based global competitive bidding process.

The project involves the procurement and installation of 500 MW/1000 MWh standalone battery energy storage systems across India, supported by viability gap funding.

HG Infra will handle 185 MW/370 MWh of the total capacity at a tariff rate of Rs 2,38,000 per MW per month. The project is valued at approximately ₹1,110 crore and has a completion timeline of 1.5 years.

HG Infra Engineering reported a 16% year-on-year (YoY) dip in net profit at ₹80.7 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, HG Infra Engineering posted a net profit of ₹96.1 crore.

The company's revenue from operations fell 5.5% YoY to Rs 902.4 crore over Rs 954.5 crore. At the operating level, EBITDA dipped 0.3% to Rs 219.5 crore in the second quarter of this fiscal over Rs 220.1 crore in Q2 of FY24.

The EBITDA margin stood at 24.3% in the reporting quarter compared to 23% in the prior year period. EBITDA is earnings before interest, tax, depreciation, and amortisation.