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KEC International shares are up 1% on an order win and solid Q1 results

Aug 4, 2023

By: BlinkX Research Team

After winning an order and reporting strong financial results for the quarter that ended in June 2023, KEC International's shares increased 1% to Rs. 653 on August 4.

Over its different business operations, KEC International has received new orders totaling Rs 1,065 crores.

Orders for T&D projects in India, Africa, and America were received by its transmission and distribution (T&D) business. It included an order for a 400 kV transmission line and a GIS substation in India from a reputable PSU's subsidiary in the renewable energy generation sector, an order for a 400/220 kV AIS substation from a well-known private developer in India, a supply of towers in Africa, and supply of towers, hardware, and poles in America, all of which were obtained by our subsidiary SAE Towers.

A variety of cables will now be supplied by the company's cable business in India as well as abroad.

The company reported a 36.5% increase in its consolidated profit to Rs 42.33 crore for the quarter ended June FY24, from Rs 31 crore in the same period last year.

In comparison to the same period the previous year, revenue increased by 27.9% to Rs. 4,243.59 crore. EBITDA increased by 45.2% to Rs. 244 crore while margins increased by 70 bps to 5.8% in Q1FY24.

Source: Media Reports