Mumbai, July 24, 2007 :KEC International Ltd. (KEC) today reported first quarter revenue of Rs. 511.60 crore versus last year’s figure for the corresponding period of Rs. 405.39 crore. Net profit for the first quarter has grown a phenomenal 74% to Rs. 25.31 crore.
“We have extended our leadership position. Crossing the record level of Rs. 500 crore in the first quarter marks another milestone. Expansion to new markets including strides in North America and Central Asia is proof of the inherent superiority of KEC’s project management and execution skills. We expect to continue on a sustained growth path,” said Ramesh Chandak, Managing Director, KEC International Ltd.
Further, the company’s EBITDA margins have improved from 10.6% to 12.5%. This shows marked improvement in operational efficiency.
KEC’s story gets even better as the company has reported the highest ever order book position in the history of the company. The already healthy order book has risen from Rs. 3000 crore in March 2007 to Rs. 3250 crore in June 2007.
“I am absolutely delighted with the current position. We have been breaking records the last few quarters and the latest spate of wins including the Rs. 380 crore Kazakhstan order and our order book position makes me feel quite optimistic about KEC’s future”, concluded Mr. Chandak.
KEC International Ltd. is a global leader in the power transmission engineering, procurement and construction (EPC) business. With global operations spanning over 15 countries, the company is present in UAE, Libya, Tunisia, Algeria, Afghanistan, Nigeria, Iraq, Kuwait, Oman, Zambia and Ethiopia among several other countries. KEC is the flagship company in the transmission sector of the Rs. 11,500 crore RPG Group.
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