Kalpataru Power stock zooms 6% after net profit rises multifold in Q4

Share of Kalpataru Power Transmission rose over 6 per cent today after the company reported multifold growth in net profit to Rs 174 crore in Q4. Profit in the year-ago period stood at Rs 31 crore.

The share opened 6.5 per cent higher at Rs 403.35 against the previous close of Rs 378.40 on BSE. Kalpataru Power Transmission share is trading higher than 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has gained 96.45 per cent in one year and risen 19.21 per cent since the beginning of this year. Market cap of the firm rose to Rs 5,690.57 crore. The stock hit 52-week high of Rs 406.80 on April 8, 2021 and 52-week low of Rs 180.00 on May 19, 2020.

Revenue from operations increased 27 per cent to Rs 4,086 crore for the quarter ended March 2021 compared to Rs 3,527 crore in the year-ago period.

Net debt stood at Rs.2,304 crore as of March 31, 2021 compared to Rs.3,458 crore as of March 31, 2020. The company also informed that it received total orders of Rs.8,443 crore in FY20-21.

"The year 2020-21 was a challenging year for our business given the pandemic and mounting commodity pricing pressure. However, we have emerged stronger than ever before and have delivered a resilient performance backed by steady revenues, healthy profitability, reduced debt levels, strong order booking, favorable progress on the divestment of long-term assets, and scaling-up our international business," said Mr. Manish Mohnot, MD & CEO, KPTL.

"Despite the pandemic, we completed the transfer of two of our T&D BOOT assets, completed acquisition of Fasttel (Brazil) and have made considerable progress on the restructuring of Road BOOT assets. In line with our capital allocation strategy, the company completed the share buyback program of Rs.176 Crores and paid a dividend Rs.10 per share (including the final dividend of Rs.1.5 per share) thereby creating value for our shareholders in FY21," he added.

KPTL is one of the largest specialized EPC companies engaged in power transmission & distribution, oil & gas pipeline, railways, and civil infrastructure business.