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Kalpataru Power Transmission net profit rises 16 pc to Rs 137 cr in Q2

Kalpataru Power Transmission Ltd (KPTL) on Wednesday reported a 16 per cent rise in its consolidated net profit to Rs 137 crore for the second quarter ended September 30, mainly on the back of higher revenues.

The company's consolidated net profit was Rs 118 crore in the corresponding quarter a year ago, it said in a BSE filing.

Its total income in the July-September 2019 period rose to Rs 3,229 crore, compared with Rs 2,496 crore in the year-ago period.

The firm's consolidated order book stood at Rs 24,832 crore as on September 30.

KPTL Managing Director and Chief Executive Officer Manish Mohnot said in a statement, "The quarter gone by witnessed solid improvement in KPTL and JMC's financial performance backed by healthy order book, diversified business portfolio and strong execution capabilities.

"The approval process for transfer of transmission assets to CLP (Canada's institutional fund manager CDPQ's arm) is progressing well, as per planned timelines. KPTL and JMC are on track to deliver a minimum revenue growth of 20 per cent for the financial year 2020."

JMC Projects, a KPTL subsidiary, has also posted a 40 per cent jump in its consolidated net profit to Rs 14 crore for the September 2019 quarter, compared with Rs 10 crore a year ago.