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KEI Industries Q2 FY24 Profit Rises 11% to Rs 155 Crore with Revenue at Rs 2,280 Crore; Discover the Details

KEI Industries Ltd. reported an 11% year-on-year increase in standalone net profit, reaching Rs 155 crore for the July-September quarter, up from Rs 140 crore last year.
KEI Industries Q2 FY24 Profit Rises 11% to Rs 155 Crore with Revenue at Rs 2,280 Crore; Discover the Details

KEI Industries Ltd. reported an 11% increase in its standalone net profit for the July–September quarter of the current financial year. The electrical wires and cables manufacturer achieved a profit of Rs 155 crore for the quarter ending on September 30, compared to Rs 140 crore during the same period last year.

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The company’s revenue experienced a significant growth of 17%, reaching Rs 2,280 crore, up from Rs 1,945 crore in the corresponding quarter of the previous fiscal year. This increase in revenue reflects the company’s strong performance in the electrical sector, driven by rising demand for its products.

However, despite the profit growth and increased revenue, the company saw a contraction in its earnings before interest, taxes, depreciation, and amortization (EBITDA) margin. For the quarter, the EBITDA stood at Rs 221 crore, indicating a need for careful management of costs to maintain profitability.

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The EBITDA margin fell to 9.7%, which suggests that while sales grew, the overall cost structure may have impacted profit margins. This decline raises questions about the company’s operational efficiency and cost management strategies.

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Overall, KEI Industries Ltd. continues to show robust growth in profit and revenue, although it faces challenges related to maintaining its profit margins.

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