KEC International’s Q3 FY 22 PAT Falls 35% YoY
India-based Infrastructure Engineering, Procurement and Construction (EPC) major KEC International Ltd. [NSE: KEC, BOM: 532714] announced its financial results for quarter ended on 31st December 2021.
KEC International’s Q3 FY22 Consolidated Financial Results
KEC’s Consolidated Financial Performance Q3 FY22 v/s Q3 FY21
KEC International Ltd.’s net sales touched Rs 3,340.02 crore in quarter ended 31st December 2021, which is up 1.54% from Rs. 3,289.23 crore during same quarter of last fiscal year. Quarterly Net Profit of KEC International Ltd. for 3rd Quarter FY22 was Rs. 93.61 crore which is down by 35.47% from Rs. 145.07 crore in Q3 FY21.
Commenting on the profit downfall of Q3 FY22, Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. said “… the profitability has been impacted by the continued headwinds on account of elevated raw material costs and the continued delays in projects in SAE Brazil due to the pandemic and unusual rainfall in the region”.
KEC’s Consolidated Financial Performance Q3 FY22 v/s Q2 FY22
The net sales of KEC International Ltd. in third quarter of FY22 is down by 7% against Rs. 3,587.46 Cr reported in the second quarter of FY22. Net Profit of the company in Q3 FY22 has gone up by 16.5% at Rs 93.61 Cr as compared to Rs. 80.29 Cr in Q2 FY22.
KEC Q3 FY22 Financial Results Summary
Expressing his views on the results, Mr. Vimal Kejriwal said “We have delivered a steady performance for the quarter, amidst global uncertainties. Our Non T&D businesses such as civil, railways and cables have delivered good performances during the quarter.”
KEC International’s order intake was Rs 14,121 crore as of 31 December 2021, growth of more than two times against last year.
About KEC International Ltd.: 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, Smart Infrastructure, Oil & Gas Pipelines, and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, Supply of Towers and Cables). KEC is the flagship Company of the RPG Group.