KPTL gets shareholders' nod to raise Rs 300 crore via NCDs

Engineering firm Kalpataru Power Transmission Ltd (KPTL) today said it has received shareholders' approval for raising Rs 300 through issuance of non convertible debentures.
The 35th Annual General Meeting of Kalpataru Power Transmission Ltd approved allotment and issuance of "secured/unsecured redeemable non-convertible debentures up to Rs 300 crore," the company said in a filing to BSE.
The company posted 50 per cent jump in standalone net profit at Rs 64.53 crore in the quarter ended on June 30, 2016. The standalone net profit was Rs 43.01 crore in the year-ago quarter.
Total income from operations was Rs 1,187.37 crore in the first quarter of this fiscal compared to Rs 1,193.64 crore year ago, KPTL said in a press release.

The company further said that its subsidiary JMC Projects (India) Ltd has posted a net profit of Rs 11 crore in the first quarter of this fiscal, up 2 per cent from year-ago level.