KEC International up over 4.5%

KEC International posted a set of exuberant consolidated numbers for Q4 and FY15 on the back of a good operational performance. This EPC company reported a whopping 85% (YoY) jump in net profit at Rs.63 crore for Q4FY15. This was helped by a 16% rise in net sales at Rs.2491 crore, a marginal drop in cost-to-revenue at 93% from 94% and an other income of Rs.9 crore.

The market is more enthused with the prospect of Q1 turning out to be more interesting. The company has stated that it has entered into a sale agreement in April’15 of its telecom assets at 381 sites in the states of Chhattisgarh, Meghalaya and Mizoram to ATC Telecom. This will bring in the company some Rs.81 crore and we could see this money coming in current Q1 if all approvals go through.

Naturally, the stock is on the run today. Currently the top gainer on the BSE, the stock is up over 4.5% at Rs.100 and has an intra day high of Rs.102.90.