New Delhi, May 20: Engineering firm Kalpataru Power Transmission Ltd (KPTL) today posted a 36.54 per cent jump in net profit at Rs 89.6 crore for the March quarter on back of improved margins and strong order book. The company’s standalone net profit was Rs 65.62 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 Rs 1,522.54 crore in the quarter under review, up from Rs 1,357.15 crore in the year-ago period.
The company’s standalone net profit was Rs 269.08 crore in 2016-17, up from Rs 192.43 crore in the previous fiscal. Similarly, its consolidated net profit was Rs 157.30 crore as against Rs 75.81 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 Rs 2 per equity share of face value of Rs 2 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 the strong visibility of order book. The operating and net margin improved due to cost rationalisations, productivity enhancement initiatives and working capital efficiencies.
On a 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 Rs 9,000 crore, with 52 percent of order book from international markets. In the fourth quarter of FY17, the company has announced order inflow of over Rs 2,850 crore. In the first quarter of FY18 till date, the company has received new orders of over Rs 1,450 crore.
KPTL’s arm JMC Projects (India) Ltd’s revenue from developmental projects (3 Road BOOT subsidiaries) has increased to Rs 139.7 crore in FY17 as compared to Rs 121.8 crore in FY16, a growth of 15 per cent. Its consolidated net loss has reduced to Rs 41.8 crore as compared to Rs 66.3 crore in FY16. As on March 31, 2017, JMC has order book of Rs 7,000 crore including orders of over Rs 1,050 crore received during the last quarter of 2016-17 and orders of Rs 3,200 crore in FY17.
The board of directors of JMC have recommended a dividend of Rs 1.5 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 per cent growth in both KPTL and JMC for next year, on back of good order book visibility.”
This is published unedited from the PTI feed.