Kalpataru Power sizzles after strong Q3 result

Kalpataru Power Transmission rose 3.02% to Rs 375.20 after the company's consolidated net profit surged 132% to Rs 308 crore on 10.7% rise in net sales to Rs 3501 crore in Q3 FY21 over Q3 FY20.

Profit before tax grew by 138.4% to Rs 410 crore in Q3 FY21 over Q3 FY20. Current tax expense jumped 76.2% to Rs 74 crore in Q3 FY21 over Q3 FY20. Core EBITDA inched lower to Rs 383 crore in Q3 FY21 from Rs 384 crore in Q3 FY20. Core EBITDA margin dropped by 120 basis points to 10.9% in Q3 FY21 from 12.1% in Q3 FY20.

Consolidated order book stood at Rs 27,532 crore as on 31 December 2020. Received orders worth Rs 13,744 crore for YTD FY21, with L1 position of around Rs 3,850 crore.

Commenting on the results, Manish Mohnot, MD & CEO, KPTL said, "KPTL and JMC delivered steady performance in Q3FY21 with improved turnover, stable margins and good order booking. We have also significantly reduced our net debt at standalone and consolidated level. The acquisition of Fasttel in Brazil is in line with our strategy to strengthen our core EPC business and becoming local in few geographies. Fasttel helps us to make our entry into the high growth Brazilian power transmission and distribution market. Our consolidated order book including L1 position of Rs 31,382 crore and good visibility across businesses makes us well positioned to capture the growth opportunities going forward."

Meanwhile, the company has declared an interim dividend of Rs 8.5 per equity share. Kalpataru said it has fixed 20 February 2021 as a record date for dividend.

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

Powered by Capital Market - Live News