Mumbai, Dec. 13 -- According to an exchange filing, the order is for the supply of a wireline winch, including a power pack and related equipment, and has been awarded in the ordinary course of business. The contract is scheduled to be executed within three months.

The company further clarified that neither its promoters nor members of the promoter group have any interest in the awarding entity. Accordingly, the transaction does not qualify as a related-party transaction under applicable regulatory norms.

United Drilling Tools is a leading manufacturer of oil drilling-related equipment in the country. The company has obtained global quality standards for its major products.

The company's consolidated net profit surged 38.9% to Rs 5.75 ...