KNR Constructions shares rally 9% to hit 52-week high as Q4 profit soars 140%

On Wednesday, KNR Constructions reported a whopping 140% growth in consolidated profit after tax (PAT) to ₹340.6 crore for Q4FY24 compared with ₹141.7 crore in Q4FY23. Compared with the previous quarter, PAT was up 151%.

Consolidated revenue rose 14% to ₹1,414 crore in the March quarter compared with ₹1,245.3 crore in the year-ago period. Sequentially, revenue grew 42% from ₹996 crore in Q3FY24.

KNR Constructions’ operating profit, or earnings before interest, tax, depreciation and amortisation (EBITDA), stood at ₹374.5 crore in Q4FY24, up 52% from ₹246 crore in Q4FY23 and 66% higher than ₹226 crore in the third quarter of FY24.

EBITDA margins also improved to 26.5% in Q4FY24 compared with 19.8% in Q4FY23 and 22.7% in Q3FY24.

For full fiscal FY24, KNR Constructions posted a 71.2% jump in consolidated net profit to ₹752.3 crore, while revenue from operations rose 9% to ₹4,429.5 crore during the year.

Following the announcement, the KNR Constructions stock gained as much as 9.1% to hit its 52-week high of ₹305.5 on the National Stock Exchange of India (NSE). Year-to-date, the stock is up nearly 17%.

KNR Constructions also informed that its total orderbook as on March 31, 2024, stood at nearly ₹5,305 crore, of which ₹3,198 crore is from the roads sector and ₹2,106.8 crore is from the irrigation sector.

The board of directors also recommended a final dividend of ₹0.25 per equity share of face value of ₹2 each for 2023-24.

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