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KEC Intl advances after Q3 PAT rises by 29%

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KEC International reported a consolidated net profit of Rs 144.92 crore in in Q3 December 2019 (Q3 FY20), up by 29% from Rs 112.37 crore reported in Q3 December 2018 (Q3 FY19).

Shares of KEC International was up 2.21% at Rs 354.30. It has traded in the range of Rs 349.15 and Rs 357.70 so far during the day.

Profit before tax rose 19.4% to Rs 202.81 crore in the December quarter from Rs 169.82 recorded in the same period last year.

Net sales increased by 16.1% to Rs 3073.11 crore in Q3 FY20 as compared to Rs 2646.63 crore in Q3 FY19.

Total expenses jumped 16.5% year-on-year (YoY) to Rs 2754.60. Financing costs fell 5.4% to Rs 81.06 crore during the period under review.

EBITDA increased by 13% to Rs 319 crore in Q3 FY20 from Rs 281 crore in in Q3 FY19. EBITDA margin stood at 10.4% in Q3 FY20 against 10.6% in Q3 FY19.

The company's order book as on 31 December 2019 stood at Rs 22,011 crore, majority of them being in the power transmission and distribution (T&D) segment followed by railway orders, civil construction orders, cable manufacturing orders and smart infra & solar projects. Out of the total order book, 65% contracts comprise of domestic orders while 35% contracts consists of international orders.

Vimal Kejriwal, MD & CEO, KEC International commented, We are very pleased with the consistent growth in both revenue and profitability, reflecting a strong performance amidst global uncertainties. Our robust and well diversified order book gives us confidence to deliver on our growth targets for the year.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, solar, smart infrastructure and cables. The company is currently executing infrastructure projects in over 30 countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 10 2020. 10:29 IST