Anil Gupta, CMD told CNBC-TV18 that the company sees 30 percent growth in house wire sales and expect exports to grow 20 percent in FY19.
Power cables manufacturer KEI Industries shares rallied 13.7 percent intraday Thursday after the company reported healthy earnings growth for quarter ended September 2018.
Profit during the quarter increased sharply by 45.3 percent year-on-year to Rs 41.4 crore, driven by strong operating income and revenue growth.
Revenue from operations jumped 41.6 percent to Rs 996.8 crore compared to Rs 753.8 crore in same period last year on strong volume growth.
KEI said volume growth in cable division in Q2 was approximately 23 percent compared to previous year same period.
The company has pending order of approximately Rs 3,401 crore plus L1 Rs 540 Crore of EPC , EHV & export.
Anil Gupta, CMD told CNBC-TV18 that the company sees 30 percent growth in house wire sales and expect exports to grow 20 percent in FY19.
Gupta raised full year volume guidance from 18-20 percent to 20-22 percent after earnings.
Operating profit during this quarter was Rs 100.84 crore, a growth of 32.2 percent over same quarter in the previous year, but margin was flat at 10.12 percent against 10.18 percent YoY.
At 12:10 hours IST, the stock was quoting at Rs 343.50, up Rs 37.20, or 12.14 percent amid high volumes on the BSE.
