KEC International shares gain 1% on order win, strong Q1 earnings

The company has posted 36.5 percent jump in its consolidated profit at Rs 42.33 crore for the quarter ended June FY24 against Rs 31 crore in the same quarter last fiscal.

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KEC International shares were up 1 percent at Rs 653 on August 4 after the company won an order and posted strong earnings in the quarter ended June 2023.

KEC International has secured new orders of Rs 1,065 crores across its various businesses.

Its transmission & distribution (T&D) business secured orders for T&D projects in India, Africa and Americas. It included 400 kV Transmission line and GIS substation order in India, from a subsidiary of a reputed PSU in renewable power generation segment, 400/220 kV AIS substation order in India, from a leading private developer, supply of towers in Africa and supply of towers, hardware and poles in Americas, secured by our subsidiary, SAE Towers.

The company’s cables business has secured orders for supply of various types of cables in India and overseas.

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The company has posted 36.5 percent jump in its consolidated profit at Rs 42.33 crore for the quarter ended June FY24 against Rs 31 crore in the same quarter last fiscal.

Revenue for the quarter rose by 27.9% to Rs 4,243.59 crore compared to same period last year, while EBITDA jumps 45.2% YoY to Rs 244 crore with margin expansion of 70 bps at 5.8% in Q1FY24.

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