You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

KEI Inds Q1 PAT slides 21% to Rs 36 cr

Capital Market 

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.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, August 07 2020. 13:25 IST