Engineering firm Kalpataru Power Transmission (KPTL) today reported a 17 per cent increase in standalone net profit for the March quarter at Rs 104.8 crore, mainly driven by higher execution.
The company had reported a net profit of Rs 89.6 crore in the same quarter last year.
Its total standalone income grew by 27 per cent to Rs 1,931.4 crore, against Rs 1,552.5 crore.
"It has been a relatively good year as we have seen good orders coming in from not just the domestic market, but also from the international markets," said Manish Mohnot, managing director and chief executive officer, KPTL.
For financial year 2017-18, the company's net profit rose by 20 per cent to Rs 322 crore, against Rs 269.1 crore in the previous year; while revenues increased by 15 per cent to Rs 5,778.5 crore, compared with Rs 5,010.7 crore.
"Given the initiatives taken by the various governments and public sector firms in sectors like railways, oil and gas and power transmission, we hope to see a number of contracts to being bid out. Similarly, the international business is witnessing a robust growth especially in the transmission sector," Mohnot said.
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Order inflows increased by 56 per cent in FY18 to Rs 9,341 crore. It has bagged contracts worth Rs 1,463 crore so far in FY19 and is L1 (lowest bidder) for orders in excess of Rs 2,000 crore, he said.
"Our order book as on March 31, 2018 stands at Rs 12,404 crore, providing good visibility for future growth. We are confident we will be able to achieve 15-20 per cent growth in topline in this fiscal as well and a PAT growth of 20 per cent," he added.
Company's listed subsidiary JMC Projects reported a nearly double growth in standalone net profit for the March quarter at 34.3 crore, against Rs 16.3 crore in the same quarter last year, while total revenues grew by 5 per cent to Rs 723 crore, from Rs 690.4 crore.
For FY18, the total income grew by 18 per cent to Rs 2,755.6 crore, while the net profit increased by 82 per cent to Rs 106.1 crore, from Rs 2,328.4 crore and Rs 58.3 crore, respectively in FY17.
JMC bagged orders worth Rs 3,339 crore in FY18 and received contracts worth Rs 942 crore so far in FY19. Its total order book stood at Rs 7,616 crore as on March 31.
KPTL's scrip ended 2.31 per cent up at Rs 458.65, while JMC Projects' stocks ended 0.81 per cent down at Rs 658 on the BSE today, against 0.76 per cent increase in the benchmark.