KEC International adds new orders worth Rs. 400 crore
Publish date: 08 Nov 2011 02:14:18 AM
KEC International, the EPC company, has said that it has secured new orders worth Rs. 400 crore from Saudi Electricity Company, Power Gird Corporation of India and Visa Power. Saudi order is for 380 KV double circuit overhead transmission line and is valued at Rs. 306 crore. The order is won in joint venture with Al-Sharif Group of Saudi Arabia and will be completed in 24 months.
Power Grid has placed an order for Rs. 70 crore transmission line in Salem, Tamilnadu. Visa Power has placed an order for transmission line from Raigarh plant to New Korta in Chattisgarh and is valued at Rs. 24 crore.
Earlier, company has declared consolidated net Revenue for the second quarter at Rs. 1,263.0 crore as against Rs. 1,000.0 crore in the corresponding quarter of the previous year, registering a growth of 26.3%. Consolidated Earnings Before Interest, Tax, Depreciation & Amortisation (EBITDA) for the quarter stood at Rs. 90.6 crore as against Rs. 100.9 crore in the corresponding quarter of the previous year. Consolidated Profit after Tax (PAT) stood at Rs. 21.2 crore was as against Rs. 42.7 crore in the corresponding quarter of the previous year.
Including these orders the total book value stands at Rs. 8450 crore. Ramesh Chandak, MD & CEO said, We are happy to keep continuous momentum despite challenging global economic environment.