Engineering firm KEC International today reported a 91 per cent increase in consolidated net profit for the quarter ended March 31 at Rs 146 crore mainly on the back of timely execution of projects. The company had reported a net profit of Rs 76 crore in the corresponding quarter last fiscal. It total income for the January-March period stood at Rs 2,884 crore against Rs 2,620 crore in Q4 FY16, registering a growth of 10 per cent, the company said in a statement issued here.
“We have closed the year on a very good note. We have delivered better than our guidance on both profitability and order inflows. Our order intake for FY17 at Rs 12,358 crore has improved significantly and is up by 42 per cent Y-o-Y,” company’s Managing Director and CEO Vimal Kejriwal said. For the full year, KEC reported a two-fold increase in profit at Rs 305 crore against Rs 148 crore in FY16. Its total revenues stood at Rs 8,755 crore as against Rs 8,710 crore a year-ago.
“Fiscal 2018 has begun on a positive note for us. We have secured substantial orders, specifically in the EHV cabling and civil businesses, both of which are our focus growth areas. Our robust order book position and strong L1 pipeline gives us good visibility and confidence of a strong performance going forward,” he said. KEC secured orders worth Rs 945 crore across its various businesses in both domestic and international markets.