Kalpataru Power rallies 11% on post Q2 results

The stock rallied 11% to Rs 360 on the BSE in early morning trade after the company reported 28% Y-o-Y jumped in its standalone net profit at Rs 914 million in September quarter.

Shares of Kalpataru Power Transmission (KPTL) rallied 11% to Rs 360 on the BSE in early morning trade after the company reported a 28% year-on-year (Y-o-Y) jump in its standalone net profit at Rs 914 million in September quarter (Q2FY19).

The standalone revenue grew 29% at Rs 15.74 billion, on account of better execution. Ebitda (earnings before interest, tax, depreciation and amortization) margin improved to 10.9% from 10.8% during the quarter. Focus on early project completion and operational excellence initiatives are driving margin improvement, the company said.

KPTL’s standalone order book rose by 47% Y-o- Y to Rs 142 billion in Q2FY19. Order inflows YTD FY19 at Rs 47.43 billion with the company is favourably placed L1 in project excess of Rs 20 billion.

On consolidated basis, the company’s net profit more-than-doubled to Rs 1,149 million in Q2FY19. It had profit of Rs 525 million in the same quarter last year. The consolidated revenue increased by 29% at Rs 24.81 billion on Y-o-Y basis. Ebitda margin improved to 12.8% in Q2FY19 from 12.06% in Q2FY18.

At 10:35 am, the stock was trading 10% higher at Rs 355 on the BSE, as compared to 0.27% rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 388,726 equity shares changed hands on the BSE and NSE so far.