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Kalpataru Power Q4 net profit up 36.54% at Rs89.6 crore

LiveMint logoLiveMint 21-05-2017 PTI

New Delhi: Engineering firm Kalpataru Power Transmission Ltd (KPTL) on Saturday posted a 36.54% jump in net profit at Rs89.6 crore for the March quarter on back of improved margins and strong order book. The company’s standalone net profit was Rs65.62 crore in the quarter ended on March 31, 2016, KPTL said in a BSE filing.

According to the statement, the company’s total income from operations was Rs1,522.54 crore in the quarter under review, up from Rs1,357.15 crore in the year-ago period. The company’s standalone net profit was Rs269.08 crore in 2016-17, up from Rs192.43 crore in the previous fiscal. Similarly, its consolidated net profit was Rs157.30 crore as against Rs75.81 crore in 2015-16. Apart from approving financial results of the company, the board in its meeting held on May 19, 2017 has also recommended a dividend of Rs2 per equity share of face value of Rs2 each fully paid up for the financial year ended March 31, 2017 subject to approval by shareholders at ensuing Annual General Meeting.

The company said that the revenue growth was driven by strong visibility of order book. The operating and net margin improved due to cost rationalisations, productivity enhancement initiatives and working capital efficiencies. On consolidated basis, the company improved in operating margins by 70 basis points and earned better returns from developmental projects. As on March 31, 2017, the company has order book in excess of Rs9,000 crore, with 52% of order book from international markets. In the fourth quarter of FY17, the company has announced order inflow of over Rs2,850 crore.

In the first quarter of FY18 till date, the company has received new orders of over Rs1,450 crore. KPTL’s arm JMC Projects (India) Ltd’s revenue from developmental projects (3 Road BOOT subsidiaries) has increased to Rs139.7 crore in FY17 as compared to Rs121.8 crore in FY16, a growth of 15 per cent. Its consolidated net loss has reduced to Rs41.8 crore as compared to Rs66.3 crore in FY16. As on March 31, 2017, JMC has order book of Rs7,000 crore including orders of over Rs1,050 crore received during the last quarter of 2016-17 and orders of Rs3,200 crore in FY17.

The board of directors of JMC have recommended a dividend of Rs1.5 per share. KPTL Managing Director and CEO Manish Mohnot said, “We have achieved our planned growth on profitability for 2016-17 with improved contribution from transmission line and railways projects. We are confident of achieving 15-20% growth in both KPTL and JMC for next year, on back of good order book visibility.”

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