GK Energy Reports Strong Q2 Results with 51.75% Revenue Growth
GK Energy Limited announced robust financial results for Q2 and H1 2023. The company's core EPC business revenue increased by 51.75% year-over-year to ₹636.82 crores in H1, with EBITDA growing 65.07% to ₹132.04 crores. Q2 saw consolidated net profit rise to ₹369.00 million from ₹169.00 million year-over-year, while revenue increased to ₹2.95 billion from ₹1.50 billion. The company's order book stands at ₹863.98 crores. The Board of Directors approved Q1 financial results in a meeting held on October 10.
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GK Energy Limited (NSE: GKENERGY, BSE: 544525) has announced robust quarterly results, showcasing significant growth across key financial metrics.
Strong H1 Performance
GK Energy delivered impressive results for the first half:
- Core EPC business revenue: ₹636.82 crores (51.75% increase year-over-year)
- EBITDA: ₹132.04 crores (65.07% growth year-over-year)
- EBITDA margin: Expanded to 20.20%
- Solar agri-pumps installed: 24,502 (50.77% increase)
- Order book: ₹863.98 crores, representing 36,444 pumps to be installed
Q2 Financial Highlights
The company's second quarter results were equally strong:
- Consolidated net profit: ₹369.00 million (up from ₹169.00 million year-over-year)
- Revenue: ₹2.95 billion (increased from ₹1.50 billion year-over-year)
- EBITDA: ₹566.00 million (grew from ₹258.00 million year-over-year)
- EBITDA margin: 19.17% (improved from 17.00% in the previous year)
Q1 Financial Results Approval
The company's Board of Directors met to review and approve both standalone and consolidated financial statements for the quarter ending June 30.
Key Highlights
Board Meeting Details:
- Date: October 10
- Time: 2:00 PM to 3:45 PM IST
- Purpose: Approval of Q1 financial results
Financial Statements Approved:
- Standalone unaudited results
- Consolidated unaudited results
Reporting Period: Quarter ended June 30
Auditor Involvement: Limited review report provided by auditors
Regulatory Compliance
The company has adhered to the following regulatory requirements:
- Disclosure made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Financial results to be published in newspapers as per Regulation 47 of SEBI LODR Regulations, 2015
- Both National Stock Exchange of India (NSE) and BSE Limited informed about the meeting outcome
Company Secretary Statement
Jeevan Santoshkumar Innani, Company Secretary & Compliance Officer of GK Energy Limited, has officially communicated this information to the stock exchanges.
Investors and stakeholders can expect detailed insights into GK Energy Limited's performance once the results are published. The approval of these results marks an important milestone in the company's financial calendar, providing transparency to its stakeholders about its quarterly performance.
Shareholders and interested parties are advised to look out for the newspaper publications and official filings for a comprehensive view of GK Energy Limited's financial position and performance for the quarter ended June 30.
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