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Impacted by higher interest, raw material and employee costs, KEC International, on a standalone basis, posted a 26 per cent drop in net profit at Rs 23 crore for the second quarter-ended September 30, compared to Rs 31 crore logged in the same period last year.
Net sales were marginally up at Rs 957 crore (Rs 950 crore). The order book of the infrastructure and EPC company stood at Rs 8,450 crore (Rs 7,000 crore), of which 58 per cent is from the international market and the balance from the domestic market.
Mr Ramesh Chandak, Managing Director, said, “despite the challenging global economic environment, our strong global presence and diversified business portfolio helped us in securing new orders of about Rs 1200 crore during the quarter. Our current order book is at all time high and it gives visibility for the coming 18-24 months.”
On Tuesday, the company scrip closed marginally down at Rs 56.65 on BSE.
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