ALSO READAll India Central Revenue Sports Meet to begin tomorrow 97.3 pc of Rs 8.24 lakh crore tax arrears difficult to recover Net income tax collection rises 14.8 pc to Rs 1.42 lk cr in Q1 Raids at national shooter's house: DRI ropes in IT for probe Income tax dept contributes Rs 52 lakh to Clean India mission
Kalpataru Power Transmission (KPTL) today posted 9 per cent rise in standalone net profit at Rs 70.45 crore for the quarter ended June 30, 2017.
The company had reported a standalone net profit of Rs 64.53 crore in the year-ago period, KPTL said in a statement.
Total income increased to Rs 1,218.24 crore in the said quarter, up from Rs 1,199.71 crore in June quarter last year.
The company recorded revenue growth of 17 per cent in railway and 27 per cent in pipeline business. It also reported financial cost reductionof12 per cent year-on-year.
Its margin improved as a result of cost rationalisation enhancement, productivity enhancement initiatives and working capital efficiencies. The company's order book was at Rs 9,753 crore as on June 30, 2017.
KPTL's subsidiary JMCProjects(India) had a revenue of Rs666.7crore, up 19 per cent year-on-year as a result of improved projectexecution.It receivedordersofRs710crore inJune quarter and the orderbook stoodat Rs7,000crore asonJune30.
"Wecontinuetodeliverstrongprofitabilityin linewithourbudgets.ThefirstquarterrevenueatKPTL wasnegativelyimpactedduetoGST-relatedfactors," MD and CEO of KPTL, ManishMohnotsaid.
He further said on the back of a solid order book, the company is confidentofachievingagrowthof15 per cent forfullyear, bothforKPTLandJMC.
"Wewillalso continue our efforts on improving our return ratios.Ourcostreductionandproductivityimprovement initiativesacrossourbusinesseswillhelpusachieveaprofi tablegrowth," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)