KEC International jumped 4.17% to Rs 875 after the company said that it has secured new orders of Rs 1,079 crore in transmission & distribution (T&D) and cables businesses.
The companys T&D business has bagged contract for setting up transmission lines from a reputed private developer in India and from clients in Saudi Arabia and Oman. It has received an orders for upgrading an existing transmission line in the United Arab Emirates (UAE) and for supplying towers, hardware and poles to a client in Americas.
The cables business has secured orders for supply of various types of cables in India and overseas.
Vimal Kejriwal, MD & CEO, KEC International, commented: We are pleased with the continuous inflow of orders, particularly in our T&D business.
The prestigious order in India T&D from a private developer has enhanced our presence in the India T&D market and further diversified our clientele. The significant orders across Saudi Arabia, Oman and the UAE have substantially expanded our International T&D order book in the Middle East.
With these orders, our YTD order intake has surpassed Rs 8,700 crore, reflecting an impressive growth of nearly 60% compared to last year.
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KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of Power transmission and distribution, railways, civil, urban infrastructure, solar, Oil & gas pipelines, and cables.
The company's consolidated net profit surged to Rs 87.58 crore in the quarter ended June 2024 as against Rs 42.33 crore during the previous quarter ended June 2023. Sales rose 6.32% to Rs 4511.89 crore in Q1 FY25 as compared to Q1 FY24.
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