KEC International, an RPG Group company, has posted a 24 per cent drop in net profit at Rs 16 crore (Rs 21 crore) for the quarter ended September 30, 2012.
Net sales were up 32 per cent at Rs 1,668 crore (Rs 1,263 crore).
Employee benefit expenses were up 18 per cent at Rs 126 crore (Rs 107 crore). Finance cost too was higher at Rs 44 crore (Rs 40 crore).
Order book was at Rs 9,386 crore (Rs 8,450 crore), an increase of 11 per cent over the same period last year.
Ramesh Chandak, Managing Director, KEC, said: “Our strong geographical and business spread has helped us in continuously delivering strong top-line growth and order intake. In each of our previous four quarters, our top-line has grown over 30 per cent Y-o-Y and our order book has increased from Rs 8,572 crore as at start of the financial year to Rs 9,386 crore currently.”
The stock was down 9.29 per cent at Rs 68.80 on the BSE.