KEC International secures orders worth ₹1,423 Crore in Saudi Arabia

6 Sep 2024 , 03:34 PM

KEC International Ltd has received fresh orders worth ₹1,423 Crore for designing, supplying, and installing 380 kV transmission lines in Saudi Arabia.

Vimal Kejriwal, MD and CEO of KEC International, stated that they are pleased with the continued inflow of orders, particularly in our T&D business. These orders in Saudi Arabia, combined with previous orders in the UAE and Oman, have strengthened its Middle East leadership and significantly increased our worldwide T&D order book. Company’s year-to-date order intake exceeds ₹11,300 Crore, representing a 75% increase over the previous year.

In August, KEC International received new orders worth ₹1,079 Crore in its T&D and cables segments. The orders cover projects in India, the Middle East, and the Americas.

In the T&D sector, KEC International has received a 765 kV/400 kV transmission line project from a notable private developer in India, as well as 230/132 kV transmission line orders from Saudi Arabia and Oman.

The company posted a net profit of ₹87.6 Crore for the quarter ended in June, more than tripling from ₹42 Crore the previous year. Revenue increased by 6.3% year on year (YoY) to ₹4,512 Crore.

At around 11.42 AM, KEC International was trading 0.88% higher at ₹996.45, against the previous close of ₹987.75 on NSE. The counter touched an intraday high and low of ₹1,040, and ₹991.85, respectively.

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