Varroc Engineering secures EV charger contract amid profit slump
Varroc Engineering secured a six-year contract for EV chargers valued at ₹4,391 million, aiming to offset a recent 63% profit slump. Shares rose 1.89% to ₹580 after the announcement, highlighting a strategic shift towards the electric vehicle market.
pre-market1 source ↓written by the desknot a recommendation
- business value
- ₹4,391 million
- reported last quarter
- 63% profit slump
- to ₹580 following
- 1.89%
Varroc Engineering announced a six-year contract to supply AC bi-directional wall chargers for electric vehicles, targeting a peak annual business value of ₹4,391 million. This strategic pivot aims to mitigate the impact of a 63% profit slump reported last quarter. Shares rose 1.89% to ₹580 following the news.
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