Kalpataru Projects International Sees 26% Profit Drop Amid Rising Costs

Kalpataru Projects International Ltd reported a 26% decline in consolidated net profit for the June 2024 quarter, with profits dropping to Rs 84 crore due to higher expenses. Total income for the company rose to Rs 4,609 crore, but expenses surged to Rs 4,472 crore from Rs 4,094 crore a year ago.

Kalpataru Projects International Ltd reported a significant 26% decline in consolidated net profit for the June 2024 quarter, registering Rs 84 crore against Rs 113 crore in the same period last year. Higher expenses contributed to the drop, the company revealed in an exchange filing.

Despite the profit slump, the company's total income increased to Rs 4,609 crore from Rs 4,259 crore in April-June 2023-24, marking a rise in revenue.

The surge in expenses, which escalated to Rs 4,472 crore from Rs 4,094 crore a year ago, impacted the bottom line. KPIL is a major EPC company engaged in diverse sectors including power transmission, urban mobility, and infrastructure.

(With inputs from agencies.)