February 01, 2012

Stock : KEC Int’l ~ Sector : Heavy Electrical Equipment

Source : Economic Times

• KEC International reported a 40% YoY increase in net profit to Rs 81 crore in the December quarter, boosted primarily by gains from sale of land in the quarter.
• “We sold our land asset in Vashi which has in creased the net profit by around Rs 40-50 crore.
• Excluding the impact of this, our bottomline has declined almost 25-30% in the quarter due to high interest cost, foreign exchange loss and lower profit margin,” Ramesh Chandak, managing director and chief executive office, said.
• The company’s net sales rose 36.4% year-on-year to Rs 1,459 crore.