KPTL third quarter profit more than doubles to Rs 308 crore

Infrastructure major Kalpataru Power Transmission Ltd (KPTL) has posted more than two-fold jump in consolidated net profit to Rs 308 crore for the December quarter.

The company said its revenue grew by 11 per cent year-on-year to Rs 3,501 crore in Q3 FY21 while core earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 383 crore with margin of 10.9 per cent.

Significantly, KPTL's standalone net debt declined by 39 per cent to Rs 612 crore and consolidated net debt by 36 per cent to Rs 2,343 crore as December 31, 2020 due to better collections and efficient working capital management.

The company's order book stands at Rs 27,532 crore. The board of directors has recommended a dividend of Rs 8.50 per share (that is 425 per cent) for face value of Rs 2 per share.

KPTL's wholly-owned subsidiary in Brazil recently has signed a definitive agreement to acquire controlling stake of 51 per cent in Fasttel Engenharia Ltda for 8.8 million dollars (about Rs 64 crore)."The acquisition of Fasttel in Brazil is in line with our strategy to strengthen our core EPC business and becoming local in few geographies," said Managing Director and CEO Manish Mohnot.

KPTL is one of the largest and fastest growing specialised EPC companies from India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.

The company is currently executing several contracts in India, Africa, Europe, Middle East, CIS, SAARC and Far East.