Kalpataru Power Transmission net dips 15.9% to Rs 259 cr in Dec quarter

Kalpataru Power Transmission Ltd (KPTL) on Friday reported a 15.9 per cent drop in its consolidated net profit at Rs 259 crore for the three months to December.

The company had logged a consolidated net profit of Rs 308 crore in the quarter ended December 31, 2020, it said in a BSE filing.

Total income stood at Rs 3,918 crore, compared to Rs 3,520 crore in the same period a year ago.

KPTL MD and CEO Manish Mohnot said in a statement, "We have delivered a robust performance at consolidated level with double-digit revenue growth, stable EBITDA margin, record order inflows including L1 and notable decline in net debt."

"Despite the challenging operating environment laden with inflated input prices and competitive pressure, we continue to drive value accretive growth in our chosen business verticals by expanding international presence and strengthening our market position with a cautious approach," he added.

In the near-term, the firm expects the operating environment to continue to remain challenging.

"In this scenario, we will manage our business with agility, with continued focus on improving project delivery and high emphasis on maintain healthy margins," he said.

Meanwhile, the board in its meeting on Friday approved the appointment of Mofatraj P Munot as non-executive director from April 1, 2022, not liable to retire by rotation, consequent upon expiry of his existing tenure as executive chairman of the company.

Munot has vast industry experience of more than five decades in real estate and property development, civil contracting and EPC across the industry spectrum, it added.

He founded the Kalpataru Group in 1969.

He also serves as non-executive chairman of Kalpataru Limited, the flagship real estate arm of the Kalpataru Group.