KEC International rallied 2.43% to Rs 908.90 after the civil construction company bagged new orders worth Rs 1,100 crore in transmission & distribution (T&D) projects in India, Middle East, Australia and Americas.
The company's T&D business secured contracts for 765 kV transmission line and 765 kV GIS substation orders in India, from Power Grid Corporation of India; 132 kV transmission line in the United Arab Emirates; supply of towers in Australia and Americas; supply of hardware and poles in Americas.Vimal Kejriwal, MD & CEO, KEC International said, We are delighted with the continuous inflow of orders, especially in our T&D business. The 765 kV orders from PGCIL have substantially bolstered our India T&D order book. The consecutive orders in UAE have further solidified our leadership in the Middle East T&D market. We are particularly enthused by the significant tower supply order from Australia, which strengthens our tower supply business by tapping into a sizeable new market. With the above orders, our YTD order intake has exceeded Rs 6,000 crore, a staggering growth of over 80% as against last year.
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 companys consolidated net profit zoomed 110.3% to Rs 151.75 crore on 11.6% growth in net sales to Rs 6,164.83 crore in Q4 FY24 over Q4 FY23.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
