India’s largest power transmission EPC (engineering, procurement, and construction) company, KEC International has declared the results for the three month period ended 31 March, 2008.

The company has recorded a 100% increase in its net profit, which stood at Rs 60.66 crore for the quarter as compared to Rs 30.19 crore during the corresponding period of the last year.

Revenues during the quarter experienced a growth of 60% at Rs 1031 crore, up from Rs 643.70 crore in the same quarter of the last year.

However, the company’s operating margin was almost flat at 10.99%.

Ramesh Chandak, company’s managing director and chief executive officer, attributed the increase to consolidation and growth in orders.

The company has recorded a net profit of Rs 172.16 crore for the year ended 31 March 2008, as compared to Rs 104.64 crore during the corresponding period of the last year.

The net sales of the company showed an increase of 38 percent for the year 2007-08 at Rs 2814 crore, against Rs 2040.63 crore in 2006-07.

For the year ended March 2008, the company’s has recommended a dividend at the rate of 50%.

At present, the company has an order book of Rs 4200 crore, as against Rs 3000 crore in the last year. Besides, it is expected to book orders worth Rs 800 crore in the next two-three months. The company finished 10 international and 20 domestic orders in the year 2007-08.

The company has also decided to spend Rs 2 billion in the current fiscal on capital expenditure (Capex) in order to swell equipment as well as operational capacities. The investment will be funded through debt and internal accruals.

KEC will spend Rs 1 billion for establishing a telecom tower facility, to supply a contract for 384 telecom towers in central and north-east India, which had been secured by group firm, National Information Technologies (NITEL).