KP Energy was locked in upper circuit of 5% to Rs 390.35 after the power generation company reported 60.85% jump in consolidated net profit to Rs 24.90 crore in Q4 FY24 as against Rs 15.48 crore in Q4 FY23.
Revenue from operations stood at Rs 207.26 crore in fourth quarter of FY24, up 39.62% from Rs 148.45 crore as of 31 March 2024.Profit before tax surged 51.44% to Rs 34.12 crore in Q4 FY24 as against Rs 22.53 crore posted in corresponding quarter last year.
For Q4 FY24, total expenses spiked 42.55% YoY to Rs 183.28 crore. Cost of materials consumed stood at Rs 154.28 crore (up 34.89% YoY), employee benefit expenses was Rs 4.53 crore (up 79.05% YoY) and other expenses was at Rs 17.89 crore (up 109.48% YoY) during the period under review.
During the quarter, revenue from infrastructure development increased 39.96% YoY to Rs 200.80 crore and revenue from sale of power climbed 42.48% YoY to Rs 5.40 crore while revenue from operations and maintenance services declined 10.92% YoY to Rs 1.05 crore.
On a full year basis, profit after tax increased 32.82% to Rs 58.32 crore on 8.02% rise in revenue from operations to Rs 472.95 crore in FY24 over FY23.
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Meanwhile, the companys board approved a final dividend of Rs 0.10 per equity share for the financial year 2023-24, subject to approval of the shareholders.
K.P. Energy is primarily engaged in development of Balance of Plant of wind power projects and allied services related to it along with generation of electricity through its own wind power generating assets and operation and maintenance services of BoP of wind power projects primarily in India.
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