KEC Intl firms up after completing acquisition of step-down subsidiary

KEC International on Monday (16 March 2020) said it has completed the acquisition of 100% shareholding of its step-down subsidiary KEC International (Malaysia) Sdn. Bhd. from KEC Global Mauritius, a wholly owned subsidiary of the company.

The said acquisition of shares has made KEC International (Malaysia) Sdn. Bhd. a direct subsidiary of the company.

Shares of KEC International was up 1.13% at Rs 263.25.

KEC International reported a consolidated net profit of Rs 144.92 crore in in Q3 December 2019, up by 29% from Rs 112.37 crore reported in Q3 December 2018. Net sales increased by 16.1% to Rs 3,073.11 crore in Q3 December 2019 as compared to Rs 2,646.63 crore in Q3 December 2018.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, railways, civil, solar, smart infrastructure and cables. The company is currently executing infrastructure projects in over 30 countries.

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