KEC International bags new order of Rs 1,294 crores

The transmission and distribution (T&D) business of the RPG group company has received a large contract for the supply of towers in the Americas.

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KEC international bags new order of Rs 1,294
KEC international bags new order of Rs 1,294

NEW DELHI (Metro Rail News): Engineering, procurement, and construction (EPC) leader KEC International announced on 16th November that it had received fresh orders totalling Rs1,294 crores from various enterprises.

The transmission and distribution (T&D) business of the RPG group company has received a large contract for the supply of towers in the Americas, it announced in a statement.

In India’s technologically advanced market, its railways’ division received two orders for Ballastless Track Works (BLT) from Chennai Metro and Mumbai Metro.

The company further added that it had received cable business orders for various cables in India and abroad.

“The order in Americas is one of our largest tower supply orders, which significantly enhances our international T&D order book. This order also reaffirms our confidence of a revival in the performance of our Brazilian subsidiary in the upcoming quarters, “Vimal Kejriwal, MD and CEO of KEC International, said.

“We are also enthused by the orders in Railway business, which has further strengthened its presence in the tech-enabled areas of Metro Rail. With these orders, our YTD order intake stands at Rs. 11,800 crores, a robust growth of 20% vis-à-vis last year, “he added.

KEC International’s Q2 earnings fell 31% year over year to 55 crores due to weak operational results. Revenue increased by 13.3%. The infrastructure EPC major’s consolidated profit fell by 31% year over year to 55 crores for the quarter that ended in the September FY23, negatively impacted by weak operating results.

KEC International Limited shares were last traded at Rs. 448.95 on the BSE at 1 pm, compared to the previous close of Rs. 430.10.

KEC International is active in these areas that are power transmission and distribution, railways, civil, urban infrastructure, solar, smart infrastructure, oil and gas pipelines, and cables. The organisation is in more than 110 countries and is working on infrastructure projects in more than 30 of them.

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