KEC Intl eyeing orders worth Rs800 cr in Q3 FY 09

KEC Intl eyeing orders worth Rs800 cr in Q3 FY 09
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First Published: Sun, Oct 26 2008. 11 34 AM IST
Updated: Sun, Oct 26 2008. 11 34 AM IST
PTI
Mumbai: RPG group company KEC International, a leading player in the power transmission engineering, procurement and construction business is eyeing orders worth more than Rs800 crore in the next quarter and expects a major chunk of it to come from overseas market.
“We expect orders worth more than Rs800 crore in the next quarter (third quarter of this fiscal). Of this, more than 60% would be from overseas markets,” KEC International Managing Director & CEO Ramesh Chandak told PTI here.
The overseas orders would mainly emanate from its traditionally strong markets of Africa and the Middle-East, Chandak said.
“We expect our overseas orders in the next quarter of this fiscal to be at over Rs500 crore,” he said.
The company has in the past secured prestigious orders from South Africa and Namibia in Africa and from Oman, Saudi Arabia and the UAE in the Middle-East.
“These are our traditional markets and we are well recognised here,” Chandak said.
KEC is increasingly focusing on railway and village electrification and telecom.
The company expects the remaining part of this fiscal to be brighter than the second quarter, mainly on account of increased execution of projects in the next quarters.
“In the second quarter, we posted a lesser net profit of Rs17.80 crore against Rs 33.89 crore in the year-ago period. This was mainly on account of translation loss (foreign exchange) and rising input costs,” he said.
Input costs have begun declining from this month onwards and this should help boost our performance, he said.
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First Published: Sun, Oct 26 2008. 11 34 AM IST