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KEC International Shares Rally 7% on Stellar Q3 Report

The company reported a five-fold increase in its consolidated net profit to Rs 97 crore.

Shares of KEC International Limited rallied 7% on 31 January after the company announced its quarterly report for October-December.

In its quarterly report, the company reported a five-fold increase in its consolidated net profit to Rs 97 crore during the quarter under review from Rs 17.60 crore reported in the same quarter last year.

The company’s revenue during the quarter stood at Rs 5,006.7 crore, marking a 14.4% year-on-year increase from Rs 4,376.34 crore reported in the same quarter of the previous fiscal year.

The expense during the quarter stood at Rs 4,911.98 crore, marking a 12.5% YoY increase from Rs 4,364.91 crore reported in the same quarter of the previous fiscal year.

The EBITDA (earnings before interest, tax, depreciation, and amortisation) margins expanded by 160 basis points to 6.2% for the quarter under review from 4.6% reported in Q3FY23.

Vimal Kejriwal, managing director and CEO of KEC International, said, “We continue to remain optimistic about the India T&D business, on the back of the continued thrust of the government for setting up of renewable energy projects.”

On 29 January, the company announced that they had secured orders worth Rs 1,304 crore across various business verticals.

At 10:40 am, shares of KEC International were trading 4.52% higher at Rs 657.20 on NSE.

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