Shares of Kalpataru Projects International tumbled 5 per cent to Rs 1,289 per share on July 30 after it reported weak April-June quarter (Q1FY25) figures.
The company posted about 26 per cent decline in consolidated net profit to Rs 84 cr for the June 2024 quarter, dragged by higher expenses.
It had clocked a profit of Rs 113 cr in the year-ago period, the company said in a regulatory filing.
The company’s total income rose to Rs 4,609 cr from Rs 4,259 cr in the April-June period of FY 2023-24.
The expenses surged to Rs 4,472 cr during the quarter from Rs 4,094 cr a year ago.
In a separate statement, the company said its order book was at Rs 57,195 cr as on June 30, 2024.
This excludes orders worth Rs 838 cr the company bagged in July 2024.
“We have delivered a resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections.
“However, getting in Q2 FY25, we have started to see a moderation in working capital intensity with improving budgetary allocations,” Manish Mohnot, MD & CEO of KPIL, said.
KPIL is one of the largest specialised EPC companies engaged in power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban mobility (flyovers and metro rail), highways and airports.
So far this year, the stock of this realty major surged over 88 percent, outperforming benchmark Nifty 50’s 14 percent rise during the same period. Earlier, Kalpataru shares had hit 52-week high of Rs 1,427 apiece on July 19, 2024.
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