KEI Industries shares drop 7% on reporting lower Q2 profit, Ebitda margins | News on Markets
KEI Industries shares lost 6.8 per cent in trade on Wednesday and registered an intraday low of Rs 4,365.55 per share after the company reported lower profit margins in its second quarter (Q2FY25) numbers.
At around 9:52 AM, KEI Industries’ share price was down 5.48 per cent at Rs 4,430.2 per share. In comparison, the BSE Sensex was up 0.05 per cent at 81,861.02, around the same time.
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The wires and cables company’s revenue and earnings before interest, tax, depreciation, and amortisation (Ebitda) also increased, but the Ebitda margin saw a decline.
In Q2FY25, KEI reported profit after tax (PAT) of Rs 155 crore, compared to Rs 140 crore in the year ago period, implyng an increase of 10.71 per cent Y-o-Y. The company’s PAT margin, however, dipped 0.42 per cent as per its filing, to 6.79 per cent, from 7.21 per cent in the year ago period.
The company revenue for the quarter under review stood at Rs 2,280 crore, compared to Rs 1,945 crore in the year ago period.
Meanwhile, its Ebitda margin slipped 71 basis points to 10.42 per cent in the September quarter, compared to 10.88 per cent in the year ago period.
KEI Industries’ board also approved raising Rs 2,000 crore through a qualified institutional placement (QIP) issue.
KEI Industries manufactures and supplies electrical wires and cables in India.
In the past one year, shares of KEI Industries have gained 74.4 per cent, compared to BSE Sensex’s rise of 23 per cent during the same period.
First Published: Oct 16 2024 | 10:41 AM IST
