KSB Pumps drops after poor Q4 earnings

KSB Pumps lost 1.86% to Rs 243.25 at 10:59 IST on BSE after net profit fell 44.8% to Rs 10.79 crore on 7.4% decline in net sales to Rs 179.49 crore in Q4 December 2013 over Q4 December 2012.

The Q4 result was announced after market hours on Tuesday, 11 February 2014.

Meanwhile, the S&P BSE Sensex was up 144.59 points or 0.71% at 20,507.96.

On BSE, so far 3,812 shares were traded in the counter as against average daily volume of 1,349 shares in the past two weeks.

The stock hit a high of Rs 244.55 and a low of Rs 237.95 so far during the day.

KSB Pumps' net profit rose 3% to Rs 59.76 crore on 2.1% growth in net sales to Rs 724.62 crore in the year ended 31 December 2013 over the year ended 31 December 2012.

KSB Pumps' board of directors at its meeting held on Tuesday, 11 February 2014, recommended final dividend of Rs 4.50 per share for the year ended 31 December 2013.

KSB Pumps manufactures pumps and valves. The company supplies its products to customers from industry and building services, OEMs, the energy industry, mining and the public sector, power plants, process engineering etc. KSB's products are also used in chemical, petrochemical and other industries to transport aggressive, corrosive, explosive, solids-laden and viscous liquids, industrial and municipal waste water and in the areas of heating and air conditioning.

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