KEC International gains after reporting stellar Q2 results

KEC International gained 2.3% to Rs 128.90 at 15:10 IST on BSE after consolidated net profit surged 131.04% to Rs 65.04 crore on 2.78% rise in total income to Rs 2126.87 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 8 November 2016.

Meanwhile, the S&P BSE Sensex was up 48.07 points or 0.18% at 27,507.06.

High volumes were traded on the counter. On BSE, so far 3.07 lakh shares were traded in the counter as against average daily volume of 80,585 shares in the past one quarter. The stock hit a high of Rs 135 and a low of Rs 126 so far during the day. The stock had hit a 52-week high of Rs 164.75 on 24 November 2015. The stock had hit a 52-week low of Rs 97.45 on 12 February 2016. The stock outperformed the market over the past one month till 7 November 2016, gaining 1.08% compared with Sensex's 2.15% decline. The scrip however underperformed the market in past one quarter, falling 10.51% as against Sensex's 2.21% fall.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

KEC International's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22.5% to Rs 185 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin increased by 1.4% to 8.7% in Q2 September 2016 from 7.3% in Q2 September 2015.

At the time of announcement of results, KEC International also said that it secured new orders worth Rs 686 crore in transmission and distribution, railways and cables businesses.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, water and renewables. It is a RPG group company.

Powered by Capital Market - Live News