KEI Industries Q2 Results: Profit Up 11%, Misses Estimates

KEI Industries' revenue rose 17% to Rs 2,280 crore from Rs 1,945 crore in the corresponding quarter of the previous fiscal.

KEI Industries Ltd.'s standalone net profit rose 11% year-on-year in the July–September quarter of the current financial year, missing analysts' expectations.

(Source: Envato)

KEI Industries Ltd.'s standalone net profit rose 11% year-on-year in the July–September quarter of the current financial year, missing analysts' expectations.

The electrical wires and cables manufacturer posted a profit of Rs 155 crore in the quarter ended Sept. 30, as compared to a Rs 167 crore estimate by Bloomberg analysts. In the year-ago period, the company posted a profit of Rs 140 crore.

KEI Industries' revenue during the quarter under review rose 17% to Rs 2,280 crore from Rs 1,945 crore in the corresponding quarter of the previous fiscal. The Bloomberg estimate for the company's revenue was Rs 2,266 crore.

The earnings before interest, taxes, depreciation and amortisation were at Rs 221 crore against Bloomberg's estimate of Rs 240, whereas the Ebitda margin contracted to 9.7% from 10.4% against the Bloomberg estimate of 10.6%.

Also Read: HDFC Life Insurance Q2 Results: Net Profit Rises 15%, Misses Estimates

KEI Industries Q2 Earnings Highlights (Standalone, YoY)

  • Revenue from operations rose 17% to Rs 2,280 crore versus Rs 1,945 crore.

  • Net profit increased 11% to Rs 155 crore versus Rs 140 crore.

  • Ebitda rose 9% to Rs 221 crore versus Rs 202 crore.

  • Margin narrowed to 9.7% versus 10.4%.

Also Read: DB Corp Q2 Results: Profit Tumbles 17%, Dividend Announced

KEI Industries Announces QIP

The company intends to conduct a qualified institutional placement to issue up to Rs 2,000 crore in total, as per the exchange filing. This includes any premium that may be determined on the equity shares or other eligible securities involving various permissible modes and combinations as deemed appropriate under applicable regulations. Further details are yet to be disclosed.

The share price of KEI Industries ended 2.43% higher at Rs 4,690.65 apiece on the NSE, as compared to a 0.28% decline in the benchmark Nifty 50. Of the 18 analysts tracking the company on Bloomberg, 10 maintain a 'buy' rating, seven maintain a 'hold,' and one maintains 'sell.'

Also Read: Hyundai India To Announce Dividend Policy After FY25, Says COO Tarun Garg

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WRITTEN BY
Divya Prata
Divya Prata is a desk writer at NDTV Profit, covering business and market n... more
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