Mumbai: Projects contractor KEC International posted a 25.4% on-year growth in its June quarter profit buoyed by sales from its US unit, a top official said on Monday.
The RPG group firm expects its FY12 revenue to maintain the 20 percent growth that it clocked in the current quarter, managing director and chief executive officer, Ramesh Chandak told Reuters over the telephone.
KEC posted net profit of Rs 33.07 crore, on net sales growth of 20.9% to Rs 1,022 crore, it said in a statement.
“The current quarter’s performance is mainly due to positive traction in the firm that we had acquired in the US,” Chandak said.
In September 2010, it had acquired SAE Towers Holdings from a unit of U.S.-based private equity firm, Acon Investments for $95 million.
SAE Towers Holdings’ net profit for the June quarter was at Rs 15.64 crore, KEC said.
The Mumbai-based KEC’s order book was at a record high of Rs 8,116 crore, a year-on-year rise of 4 percent, it said. The order book constitutes 56% international orders, it added.
“Our order book is very well spread over entire world and it is growing in each region,” Chandak said.
KEC, which is in to power transmission and distribution, railways, telecom towers and water projects, got its 20% orders in the US, 20% from Africa and CIS, he said.
The firm’s Ebidta margins stood at 9.4% and will be in the region of 9-11% for the fiscal ending March 2012, he said.
At 2:13 am, shares in the firm, which is currently valued by the market at $461.39 million, were up 1.14$ to Rs 80 in a Mumbai market that was up 0.42%.