KPI Green Q1 Results: Stock falls 9% despite revenue, margin growth, extends YTD loss

Shares of KPI Green Energy fell 9% on Tuesday, August 11, after the company reported its first quarter earnings.

While the company's revenue, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), and EBITDA margin increased from last year, its profit declined.

KPI Green's profit of ₹85.6 crore in the first quarter was 18% lower than the ₹104 crore it reported last year.

The company's revenue increased by 15% to ₹693.8 crore from ₹602.9 crore last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 19% to ₹245.6 crore from ₹205.7 crore in the first quarter last fiscal, while margins expanded to 35.4% from 34.1% in the year-ago period.

The company has also appointed Kapil Kriplani as its chief financial officer (CFO), with effect from August 11. Salim Yahoo has tendered his resignation on Tuesday. He will be relieved from his duties in due course and the effective date of cessation will be intimated accordingly, the company said.

The company, in its investor presentation, said the group's target is to achieve over 10 giga watt (GW) by 2030. Its portfolio capacity at the end of the first quarter was at 6.94 GW, which includes 1.87 GW of installed capacity and 5.07 GW of work in progress. It said power evacuation comprised 5.1 GW and its land bank comprised 8,657 acre.

Shares of KPI Green fell 9% to hit an intraday low of ₹336 apiece on Tuesday. The stock is currently trading 8.8% lower on Tuesday after the results announcement at ₹336.8. The stock is down 30% so far this year.

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