KEC International down 4%

KEC International went down 4% to Rs.282.15 today and continues to remain pretty much firmly in the red.

The market is disappointed with its performance for Q4FY19. Though its revenue rose 5% (YoY) at Rs.3841 crore, its net profit showed a marginal, less than 1% drop at Rs.194 crore. Last year, the company had a tax reversal of Rs.25 crore; so that too added to the higher base effect.

EBITDA for the quarter was up 8% at Rs.399 crore and margins showed an improvement from 10.1% to 10.4%.

The company ended FY19 with an 8% increase in net profit at Rs.496 crore. Its year-end order book stood at Rs 20,307 crore, marking a growth of 17% (YoY).