EPC firm KEC International today reported a consolidated net profit of Rs 34.35 crore for the quarter ended March 31, 2014, as against a net loss of Rs 13.93 crore in the corresponding quarter of the previous fiscal.
Net sales of the RPG group firm rose marginally by 1.20 per cent to Rs 2,175.87 in the last quarter vis-a-vis Rs 2,150.04 crore of the Q4 of the FY'13, it said in a filing to the BSE.
Company's total expenditure stood at Rs 2,042.08 crore in the last quarter amounting to 93.85 per cent of its net sales. The finance costs of the company rose by 18.11 per cent to Rs 67.30 crore in the quarter.
For the full year ended March 31, 2014, the company reported a 2.63 per cent rise in its consolidated net profit at Rs 66.75 crore, while net sales rose by 13.22 per cent to Rs 7,901.83 crore in the last fiscal.
In a separate statement, the company said that it secured new orders worth Rs 170 crore during March 2014 in its transmission and cables businesses. With these orders, KEC's total order book as on March 2014 stands at Rs 10,200 crore. Of this, 55 per cent orders are from outside India.
Commenting on the results, company's Managing Director and CEO Ramesh Chandak said: "Our EBITDA margins are gradually improving every quarter. It has gone up from 4.1 per cent in Q4 FY13 to 7 per cent in Q4 FY14. We are confident of delivering better profitability in FY15."
He further said that KEC is leveraging its strong international EPC experience which has helped the company in securing one more order in Brazil in FY14.
"Despite the challenging environment, we have a robust order book of over Rs 10,000 crore which gives us good visibility for FY15 growth," he further said.
The company Board has recommended dividend of Rs 0.60 per share as against Rs 0.50 per share in the previous year, KEC said in the statement.
The company has also appointed Vinayak Chatterjee as an Independent Director on its Board with effect from today.
Shares of the company closed today at Rs 75.60 on the BSE, down 4.73 per cent from the previous close.
