On Wednesday, KEC International Ltd. declared that Power Grid Corp. had given it transmission and distribution orders totalling Rs 1,704 crore.
According to stock exchange filings, the turnkey orders include the design, delivery, and installation of GIS substations and 765 kV transmission lines.
Vimal Kejriwal, the managing director, was thrilled “with the continuous inflow of orders, especially in our T&D business.”
He added, 鈥淭hese 765 kV orders from PGCIL have further strengthened our India T&D order book, reaffirming our confidence in the continued strong growth of this business.鈥�
The top executive, who is also the chief executive officer, added, 鈥淲ith these orders, our YTD order intake now stands at Rs 16,300 crores, reflecting an impressive growth of over 60% compared to last year.鈥�
KEC International has announced numerous large orders for the second time this week.
The RPG Group said on Monday that it had received fresh orders totalling Rs 1,114 crore for its many companies.
One order is for the installation of a 400 kV transmission line in Oman, while another is for the provision of poles, towers, and gear throughout the Americas.
The company’s diverse operations include oil and gas pipelines, cables, trains, urban infrastructure, renewable energy, and civil engineering in addition to power transmission and distribution.
With a presence in 110 countries, the EPC major is now working on infrastructure projects in more than 30 nations.
KEC International reported a 53% increase in net profit to Rs 85.41 crore for the second quarter of the current fiscal year. In contrast, the company’s net profit for the same time in the previous fiscal year was Rs 55.83 crore.
In contrast to the benchmark Sensex’s 0.29% gain, KEC International Ltd.’s shares ended the day 0.03% lower on the BSE at Rs 1,023.45 each.
