KEI Industries Q3 Earnings: Profit Up 9%, Misses Estimates
Revenue for the quarter under review rose 20% to Rs 2,467 crore.
KEI Industries Ltd. reported on Tuesday a 9.4% growth in net profit to Rs 165 crore in the third quarter of financial year 2024–25, according to an exchange filing.
The profit fell short of estimates as analysts were looking forward to the wire and cable manufacturer posting a net profit of Rs 174 crore. The company had posted a profit of Rs 151 crore in the October-December quarter of the previous fiscal.
For the nine months ended December 2024, the company's net profit stood at Rs 470 crore, an increase of 14% from Rs 412 crore that it had reported for the similar period in fiscal 2024.
Revenue for the quarter under review rose 20% to Rs 2,467 crore, compared to Rs 2,059 crore that it had posted in the similar period last year.
For the April-December period, the company's revenue rose 18% to Rs 6,807 crore in comparison to Rs 5,785 crore in the year-ago period.
The wiring manufacturer’s operating income, or earnings before interest, taxes, depreciation and amortisation, stood at Rs 241 crore for the December quarter. This is a 12% growth from the Rs 214-crore Ebitda that it had reported in the third quarter. On the Ebitda too, the company has failed to meet estimates by the analysts, who had predicted Rs 252 crore for the quarter.
The Ebitda margin declined to 9.4% from 10.4% in the similar period of the previous year. Analysts had expected Ebitda margins at 10.40% for the quarter.
Dividend Of Rs 4 Apiece
In a separate filing, the company also announced that its board of directors approved on Tuesday an interim dividend of Rs 4 against each equity share held by its investors for the Financial Year 2024-25. The payout is at the rate of 200% per equity share with a face value of Rs. 2.
Shares of KEI Industries closed 2.74% lower at Rs 4,033.60 apiece on the BSE, compared to a 1.6% decline in the benchmark Sensex. The company filed the developments after market hours on Tuesday.
