Shares of KEI Industries surged to 3% in the Tuesday’s early trading session after company announced 24% rise in Q1 Net Profit.
KEI Industries reports 24% rise in Q1 Net Profit
KEI Industries Ltd has announced its financial results for the first quarter ending June 30, 2024, showcasing significant growth in net profit and revenue. The company’s performance highlights strong demand in both domestic and international markets for its wire and cable products.
Key Financial Highlights:
– Net Profit: KEI Industries reported a 23.8% increase in net profit, reaching ₹150.2 crore, compared to ₹121 crore in the same quarter last year.
– Revenue: Revenue from operations rose by 15.7%, amounting to ₹2,060.4 crore, up from ₹1,780.5 crore in the previous fiscal period.
– EBITDA: The company’s EBITDA grew by 21.8%, totaling ₹214.4 crore, with an EBITDA margin of 10.4%, an improvement from 9.9% in the corresponding quarter last year.
Segment Performance:
|
Metric |
Q1 FY 2024-25 |
Q1 FY 2023-24 |
Change (%) |
|
Net Profit (₹ crore) |
150.2 |
121 |
23.8% |
|
Revenue from Operations (₹ crore) |
2,060.4 |
1,780.5 |
15.7% |
|
EBITDA (₹ crore) |
214.4 |
176 |
21.8% |
|
EBITDA Margin (%) |
10.4 |
9.9 |
– |
|
Domestic Institutional Wire & Cable Sales (₹ crore) |
574 |
493 |
– |
|
Domestic Institutional EHV Cable Sales (₹ crore) |
79 |
49 |
– |
Market Insights:
– Domestic Sales: The company reported a significant increase in domestic institutional wire and cable sales, reaching ₹574 crore, up from ₹493 crore the previous year. Sales of domestic institutional EHV cables also grew to ₹79 crore from ₹49 crore.
– Institutional Sales: Total institutional cable and wire sales, including exports, accounted for 38.97% of the total in Q1 FY25, slightly down from 43.80% in Q1 FY24. However, total domestic institutional sales saw a year-over-year increase of 20.66%.
As of 9:18 AM the shares of KEI Industries were trading 1.68% higher at ₹4,401.30 on NSE.
