KEC International reports 97% jump in Q4 PAT at ₹347 crore
Upstox
2 min read • Updated: May 8, 2024, 11:19 AM
Summary
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 37% to ₹388 crore while EBITDA margins improved to 6.3% during the quarter compared to 5.1% in the same period a year ago. For the fiscal year 2024, the company registered a 15% YoY growth in revenue at ₹19,914 crore.
KEC International on Tuesday reported a 12% year-on-year (YoY) rise in fourth-quarter consolidated revenue at ₹6,165 crore while net profit jumped 110% to ₹152 crore.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 37% to ₹388 crore while EBITDA margins improved to 6.3% during the quarter compared to 5.1% in the same period a year ago.
For the fiscal year 2024, the company registered a 15% YoY growth in revenue at ₹19,914 crore. EBITDA grew 46% to ₹1,215 crore while EBITDA margins improved to 6.1% compared to 4.8% in the previous fiscal. Net profit for the year jumped 97% YoY to ₹347 crore.
The company said its net debt, including acceptances, has decreased to ₹5,090 crore as of March 31, 2024, largely in line with March 2023 levels despite a revenue increase of more than ₹2,500 crore. KEC International said its FY24 order intake stood at ₹18,102 crore with transmission and distribution (T&D) and civil businesses being the major contributors. The firm’s order book as of March 31, 2024, stood at ₹29,644 crore.
The board recommended a dividend of ₹4/- per share.
Vimal Kejriwal, managing director and CEO at KEC International said the strong revenue growth has been delivered by stellar performances in T&D and civil businesses. “Our EBITDA margins have shown consistent improvement, with Q4FY24 clocking a commendable increase of 120 basis points to reach 6.3%, up from 5.1% in the same quarter of the previous year. The bottom line has also seen remarkable growth, with both profit before tax (PBT) and profit after tax (PAT) doubling over the previous year,” he said.
KEC International is a global infrastructure engineering, procurement and construction (EPC) company with a presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
Shares of the company have risen over 24% since the beginning of the year. The stock has gained over 48% in the last one year.