KEC International slumps after sales falls to 14%

Shares of KEC International have plunged by almost 8% to Rs 88 on the BSE after the sales declined 14.15% to Rs 1,586.79 crore in the quarter ended December 2014 as against Rs 1,848.43 crore during the previous quarter ended December 2013.

However, the net profit of the company rose 747.84% to Rs 90.21 crore in the quarter ended December 2014 as against Rs 10.64 crore during the previous quarter ended December 2013.

The stock opened at Rs 97 and touched a low of Rs 84 on the BSE. Around 2.5 million shares changed hands on the BSE and the NSE so far.