Business Standard

Kalpataru Projects International profit rises over 28% to Rs 113 cr in Q1

Total income of the company rose to Rs 4,259 crore in the first quarter of the current fiscal from Rs 3,691 crore a year ago

q1 results, earnings, companies, india inc, corporate

Illustration: Ajay Mohanty

Press Trust of India New Delhi

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Kalpataru Projects International on Friday said it posted over 28 per cent rise in consolidated net profit at Rs 113 crore in the June quarter mainly on the back of higher revenues.
The company had reported a consolidated net profit of Rs 88 crore in the year-ago quarter, a BSE filing showed.
Total income of the company rose to Rs 4,259 crore in the first quarter of the current fiscal from Rs 3,691 crore a year ago.
The board also approved the proposal for issuing secured/unsecured redeemable non-convertible debentures of up to Rs 300 crore by the company in one or more tranches.
"We have delivered another quarter of strong performance with notable growth in revenue, profitability and order book. We continue to deliver resilient and competitive performance while improving our consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) margin by 40 basis points to reach nine per cent for Q1 (June quarter)," Manish Mohnot, managing director and chief executive officer, Kalpataru Projects International Ltd (KPTL), said in a statement.
This positive outcome is a direct result of our focused strategy aimed at consistently improving and delivering profitable growth through our deep expertise and operational excellence in core business areas, he added.
The company has already secured orders worth Rs 7,383 crore and the order flow remains positive across business verticals, he said.
"Our robust financial profile, combined with a well-diversified order backlog of Rs 47,332 crore, positions us favourably for future growth and profitability," he said.
The board in its meeting on Friday also approved issuance of guarantee support on behalf of Kalpataru Power Chile SpA (KPCSA), a wholly-owned subsidiary of the company, for an amount not exceeding USD 10 million.
The guarantee support will be issued in favour of its lenders in one or more tranches, to be valid till December 31, 2025.
The board also approved increasing the value of the guarantee support for Fasttel Engenharia SA (Fasttel), a step-down wholly-owned subsidiary of the company, from USD 25 million to USD 45 million.
These will be issued in one or more tranches from time to time in favour of one or more lenders of Fasttel, to be valid for a period of not beyond September 30, 2029 and delegated authority to the executive committee.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Aug 11 2023 | 3:45 PM IST

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