KEI Inds Q1 PAT slides 21% to Rs 36 cr

KEI Industries posted a 20.8% drop in consolidated net profit to Rs 36.23 crore in Q1 June 2020 from Rs 45.72 crore reported in Q1 June 2019.

Consolidated net sales for Q1 June 2020 stood at Rs 745.35 crore, declining 31% from Rs 1081.36 crore in Q1 June 2019. KEI said sales declined approximately 31% due to lockdown and restrictions on business activities caused due to COVID-19 pandemic during the current quarter. The result was announced after market hours yesterday, 6 August 2020.

Consolidated profit before tax came at Rs 49.50 crore in quarter ending June 2020, 30.2% lower than Rs 70.92 crore in the same period last year. Total tax expense declined 47% year on year to Rs 13.27 crore in Q1 June 2020.

Consolidated EBIDTA during Q1 June 2020 stood at Rs 80.87 crore, falling 32% from Rs 119.04 crore posted in the same period last year. KEI's pending order at the end of 31 July 2020 stood at Rs 2951 crore.

Shares of KEI Industries were trading 4.47% higher at Rs 369.05 on BSE.

KEI Industries is a cable manufacturing company. It offers high and low tension cables, control and instrumentation cables, house wires and stainless steel wires, and high-technology specialty cables.

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