Kalpataru Projects Q1 Net Profit Falls 26% to Rs.84 Crore

02 Aug 2024 CW Team

Kalpataru Projects International has announced a significant decline in its net profit for the first quarter of the current fiscal year. The company's net profit fell by 26% to Rs.84 crore, compared to Rs.113 crore in the same period last year. The decline is attributed to increased expenses and operational costs.

Revenue for the quarter stood at Rs.3,100 crore, marking a slight increase from Rs.3,045 crore in the previous year's corresponding quarter. Despite the revenue growth, the rise in expenses impacted the overall profitability. The total expenses for the quarter rose to Rs.2,900 crore, compared to Rs.2,800 crore in the same period last year.

Kalpataru Projects International's Chairman and Managing Director, Manish Mohnot, stated that the company faced challenges due to higher raw material costs and increased project execution costs. He emphasised the company's focus on improving operational efficiencies and cost management to mitigate the impact of rising expenses.

The company remains optimistic about its long-term growth prospects, driven by a strong order book and ongoing projects in the infrastructure sector. Kalpataru Projects International is currently working on several high-value projects, including urban infrastructure, power transmission, and water supply projects across India and international markets.

Despite the short-term challenges, the company is confident in its ability to deliver sustainable growth and enhance shareholder value. Kalpataru Projects International continues to explore new opportunities and expand its presence in key markets to drive future growth.

The company's management remains committed to addressing the challenges and leveraging its expertise in project execution to achieve better financial performance in the coming quarters.

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