KEC International, the leading firm under the Rama Prasad Goenka Group (RPG Group), reported a consolidated net profit of Rs 55.83 crore for the second quarter ending September 30, 2023.
The company attributed this profit to a surge in sales during the quarter. Despite a 1 percent rise in the consolidated profit to Rs 55.83 crore, the bottom line was impacted by a tax outgo of Rs 9.95 crore, in stark contrast to a tax inflow of Rs 28.67 crore observed during the same period last year.
The increase in government spending on infrastructure, particularly with India’s general elections on the horizon within a year, has provided a boost to companies operating in sectors like power transmission & distribution, civil, and railways.
KEC International, operating in these sectors among others, experienced a notable 10.7 percent year-on-year rise in revenue, reaching Rs 4,500 crore.
Despite these positive developments, the company faced challenges, as reflected in its shares trading 1.19% lower at ₹614.05 as of 12:31 pm.
