The shares of the leading company for engineering procurement gained up to 7 percent after the company’s net profit and revenue increased by 438 percent and 14 percent respectively in the third quarter.
With a market capitalization of Rs 17,052.67 crore, the shares of K E C International Ltd were trading at Rs 663.30 per share, increasing around 5.61 percent as compared to the previous closing price of Rs 628.05 per share.
Looking into the company’s Performance, K E C International Ltd’s revenue increased by 11 percent on a quarter-on-quarter basis from Rs.4,499 crores in Q2FY24 to Rs. 5,007 crores in Q3 FY24. Further, revenue increased by 14 percent year on year from Rs. 4,375 crores in Q3FY23 to Rs. 5,007 crores in Q3FY24.
K E C International Ltd’s net profit increased by 73 percent on a quarter-on-quarter basis from Rs.56 crore in Q2FY24 to Rs. 97 crore in Q3FY24. Further, net profit increased by 438 percent yearly from Rs. 18 crore in Q3FY23 to Rs.97 crore in Q3FY24.
With a record order book and L1 position of over Rs 38,000 crore, as well as a solid tender pipeline, the business is on track for a successful year. Furthermore, YTD order intake exceeds Rs. 2,500 crore for industrial, commercial, and residential structures, public spaces, and data centers.
The business has commissioned 198 RKM of rail laying. KEC is also a prominent player in the forthcoming speed upgrade projects, with a significant presence in the 2×25 kV OHE segment. The company is currently working on 11 projects totaling 2,400 RKM of 2×25 kV upgradation under Mission Raftaar.
KEC International Ltd is principally engaged in the Engineering, Procurement, and Construction (EPC) of infrastructure goods, projects, and systems, as well as related operations for power transmission, distribution, railway, and other EPC industries.
Written by:- Abhishek Singh
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