Confidence Petroleum bags contract worth Rs 42-cr from PSUs

The company has received contracts from Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL).

The contract comprise assistance for 3 lakh cylinders for BPCL at Kollam, 1.2 lakh cylinder for HPCL at Trivandrum, period of two contracts is 10 year and 90,000 cylinders for IOCL at Murbad for a three years term.

The company said that it has already participated in the tender issued by IOCL for Sarangpur and has been shortlisted for the same. The Letter of Intent (LOI) is expected to be issued shortly, confirming the allocation.

Confidence Petroleum India is a fully integrated LPG & CNG company. Its segments include LPG Cylinder Manufacturing and auto LPG and CNG dispensing stations.

The company's consolidated net profit surged 129.61% to Rs 22.80 crore on 46.67% jump in revenue from operations to Rs 924.81 crore in Q4 FY25 over Q4 FY24.

The counter declined 9.35% to Rs 50.59 on the BSE.

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