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Last Updated : Aug 07, 2019 09:10 PM IST | Source: PTI

KEC International posts net profit of Rs 89 crore in June quarter

The company secured Rs 1,115 crore worth of orders during the quarter across various business segments including T&D, cables, civil and solar, with a current L1 position of over Rs 3,500 crore majorly in T&D, railways and civil businesses.

 
 
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Infrastructure EPC firm KEC International on August 7 reported a marginal improvement in consolidated net profit for the quarter ended June 30 at Rs 89 crore on back of higher income.

The RPG Group company had reported a net profit of Rs 87 crore in the corresponding quarter last fiscal.

Its total revenues for the quarter under review increased 15 percent to Rs 2,412 crore from Rs 2,104 crore in Q1 FY2019.

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"We have achieved a revenue growth of 15 percent mainly backed by a strong year-on-year growth of 25 percent in overall T&D revenues," company's MD and CEO Vimal Kejriwal said in a statement issued here.

The company secured Rs 1,115 crore worth of orders during the quarter across various business segments including T&D, cables, civil and solar, with a current L1 position of over Rs 3,500 crore majorly in T&D, railways and civil businesses.

KEC's order book as on June 30 now stands at Rs 19,016 crore, a YoY growth of 5 per cent.

"Fiscal 2020 has commenced with a strong growth in overall T&D revenues. Both domestic as well as international T&D have demonstrated a robust execution this quarter despite some challenges due to elections in India. Revenue Growth in international markets is expected to continue during the year," he said.

Kejriwal further said the non-T&D businesses contributed upward of 35 per cent to the overall revenues majorly backed by railways revenue growth.

"The execution ramp up of the higher margin T&D business will enable us to achieve the 15-20 per cent revenue growth, with EBITDA margins expected to remain at current levels." he added.

Kejriwal also said the orders from Nepal, along with the earlier orders in the region will help it in consolidating its position in the SAARC market.

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First Published on Aug 7, 2019 08:47 pm
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