Kalpataru Projects Q2 Profit Down 8% to Rs 90 Cr

New Delhi, Nov 2 (PTI) Kalpataru Projects International Limited (KPIL) on Thursday reported an over 8 per cent fall in consolidated net profit to Rs 90 crore for September quarter 2023-24 on account of increased expenses.

It had clocked Rs 98 crore net profit in the year-ago period, the company said in a regulatory filing.

However, total income rose to Rs 4,530 crore as against Rs 3,808 crore in the year-ago quarter.

Expenses also surged to Rs 4,398 crore from Rs 3,659 crore in the September quarter of the previous fiscal.

On a standalone basis, net profit rose 9 per cent to Rs 113 crore as against Rs 104 crore a year ago.

Income on a standalone basis increased to Rs 3,869 crore from Rs 3,308 crore in the second quarter last fiscal.

In a separate statement, the company said its order book stood at Rs 47,040 crore as of September 30, 2023, an increase of 22 per cent year-on-year (y-o-y).

Additionally, it is in the L1 position (successful bidder) for over Rs 4,200 crore worth of projects.

"We have delivered another quarter of good performance driven by robust execution and strong order inflows in our major business verticals. We achieved Rs 8,759 crore in revenues, representing a growth of 17 per cent y-o-y, and Rs 752 crore of EBITDA, resulting in 8.6 per cent margin for H1 FY24 at consolidated level,"Manish Mohnot, Managing Director and Chief Executive Officer of KPIL, said.

The company aims to strengthen its position further in the EPC (engineering, procurement and construction) market.

It will also continue to strengthen capabilities organically and through strategic business development in newer areas like data centres, airports, heavy civil, design build buildings and factories (B&F) projects, industrial projects and manufacturing expansion, he added.