KEC International plummets ~3% as PAT for Q1FY23 declines 33% y-o-y

4 Aug 2022 , 09:50 AM

KEC International Limited announced its results for the quarter ended June 30, 2022.

Company’s counter slipped 3.20% in early morning trade as the PAT during the quarter significantly declined.

At around 9.38 AM, it was trading at Rs448.50, against its previous close of Rs463.35 on the National Stock Exchange.

KEC logged a 31% yoy growth in consolidated revenue at Rs3,318 crore in Q1FY23 as compared to Rs2,540 crore in Q1FY22. While on a Standalone basis, it logged 22% yoy growth Q1FY23 in revenue at Rs2,849 crore as compared to Rs2,338 crore in the previous corresponding quarter.

On a Consolidated basis, the company reported a marginal growth of 5% yoy in Q1FY23 EBITDA at Rs168 crore as compared to Rs160 crore in Q1FY22. Company’s standalone EBITDA registered a nominal growth of 4% yoy at Rs234 crore in Q1FY23 as compared to Rs225 crore in Q1FY22.

However, despite recording a strong revenue base during the June quarter, company’s consolidated PAT declined by 33% to Rs31 crore in Q1FY23 as compared to Rs46 crore in Q1FY22. Standalone PAT declined marginally by 3% yoy at Rs100 crore as compared to Rs104 crore in the previous corresponding quarter.

Company’s Order Book as of June 30, 2022, stood at Rs23,720 crore, strong growth of 16% yoy; L1 of over Rs8,000 crore.