DSIJ Mindshare

KEC International reports more than two fold increase in Net Profit

KEC International (KEC) announced its consolidated unaudited results for the June quarter on 27th July. The company reported a strong growth of 167.75 per cent annual basis in Profit after Tax (PAT), which stood at Rs 30.39 crore in Q1FY16 against Rs 11.35 crore in Q1FY15. In response to the strong results the shares of KEC gained more than 7 per cent and touched a one year high of Rs 160.95 in the BSE on Tuesday (28th July).

KEC a global infrastructure engineering, procurement and construction (EPC) major company posts, a growth of 9.14 per cent in total revenue to reach Rs 1877.96 crore in Q1FY16 from Rs 1720.74 crores in Q1FY15.Its total expenditure increased by 7.30 per cent to reach Rs 1737.26 crore in Q1FY16 as compared to Rs 1619 crore in Q1FY15. KEC's total expenditure increased mainly due to a 14.45 per cent increase in other expenses and 6.38 per cent increase in the employees cost.

KEC's Earnings before interest, tax, depreciation and amortization (EBITDA) boosted by 38.29 per cent to reach Rs 140.70 crore in Q1FY16 on annual basis and its EBITDA margin expanded by 158 basis points to 7.49 per cent in Q1FY16. The company's profit before tax (PBT) too increased by 209.08 per cent from Rs 16.30 crore in Q1FY15 to reach Rs 50.38 crore in Q1FY16. KEC's profit after tax (PAT) margin expanded by 96 basis points to reach 1.62 per cent in Q1FY16.

The order book of KEC currently stands at Rs 10537 crore as compared to Rs 10325 crore in the corresponding quarter of previous year. As per the reports it is clear that, KEC is continuously performing well and delivering in all the three parameters of revenue, profitability and order intake. The company is also confident of maintaining the growth momentum, in this financial year as well, with the help of robust execution capabilities and good order book as well as strong L1 pipeline.

KEC International is the flagship company of the RPG group and has its presence in the verticals of Power Transmission and Distribution, Cables, Railways, Water and Renewables. Globally, the company has empowered infrastructure development in more than 61 countries.

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