KEC Intl Q3 PAT down 35% YoY

KEC International reported a 35% decline in consolidated net profit to Rs 94 crore on a 2% increase in revenue to Rs 3,340 crore in Q3 FY22 compared to Q3 FY21.

EBITDA in Q3 FY22 was Rs 239 crore, down 20% from Rs 299 crore in Q3 FY21. EBITDA margin was 7.2% in Q3 FY22 compared to 9.1% in Q3 FY21.

The company’s order intake was Rs 14,121 crore, more than twice the growth from last year. The YTD order book was Rs 24,401 crore, representing a growth of 36% year-on-year.

Vimal Kejriwal, MD and CEO, KEC International, commented: “We delivered a stable performance for the quarter amid global uncertainties. Our non-T&D businesses such as civil engineering, railways and cables performed well during the quarter. Profitability was impacted by continued headwinds due to high raw material costs and continued project delays in SAE Brazil due to the pandemic and unusual rainfall in the region.

We are satisfied with the dazzling growth in our order intake. With a strong focus on execution, a solid + L1 order book of over Rs 28,500 crore and a strong tender pipeline, we are confident to end the year with decent growth.

KEC International is a global infrastructure engineering, procurement and construction (EPC) company. It is present in the vertical sectors of electricity transmission and distribution, railways, civil and urban infrastructure, solar energy, smart infrastructure, oil and gas pipelines and cables.

The certificate rose by 0.23% to currently trade at Rs 495 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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