KEI Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 23, 2024 at 07:52 am EST
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KEI Industries Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 20,617.22 million compared to INR 17,843.15 million a year ago. Revenue was INR 20,735.27 million compared to INR 17,980.79 million a year ago. Net income was INR 1,506.74 million compared to INR 1,286.03 million a year ago. Basic earnings per share from continuing operations was INR 16.7 compared to INR 14.26 a year ago. Diluted earnings per share from continuing operations was INR 16.67 compared to INR 14.23 a year ago.
For the nine months, sales was INR 57,908.71 million compared to INR 49,578 million a year ago. Revenue was INR 58,185.63 million compared to INR 49,803.64 million a year ago. Net income was INR 4,122.59 million compared to INR 3,392.48 million a year ago. Basic earnings per share from continuing operations was INR 45.7 compared to INR 37.63 a year ago. Diluted earnings per share from continuing operations was INR 45.61 compared to INR 37.58 a year ago.
KEI Industries Limited is an India-based manufacturer of wires and cables. The Company's segments include Cables and Wires, Stainless Steel Wire, and Engineering, Procurement and Construction (EPC) Projects. Cables and Wires segment is engaged in the manufacturing, sale and marketing of all range of power cables, such as low tension (LT), high tension (HT) and extra high voltage (EHV), control and instrumentation cables, specialty cables, elastomeric/rubber cables, flexible and house wires, and winding wires. Stainless Steel Wire segment comprises manufacturing, sale and job work related to stainless steel wires. EPC Projects segment comprises of design, engineering, supply, erection, testing and commissioning of high voltage and extra high voltage underground cabling projects from 33 kV to 400 kilovolt (KV), substations (AIS & GIS) on turnkey basis up to 400 KV and conversion of overhead line to underground line for complete town including HT and LT distribution system, among others.