 "KEI Industries extends rally post Q2 earnings")
KEI Industries has moved higher to its 52-week high of Rs 135, up 9%, extending its Monday's 9% surge on BSE, after it reported 49% year on year (YoY) jump in net profit at Rs 22.90 crore for the quarter ended September 30, 2016 (Q2FY17), on the back of strong operational performance. The company had profit of Rs 15.36 crore in year ago quarter.
Total income from operations grew 2.9% at Rs 676 crore in Q2FY17 against Rs 656 crore in Q2FY16. Total expenditure increased by 1.9% at Rs 616 crore on YoY basis.
KEI Industries said the company is hopeful to achieve 12 to 15 % growth in term of value in the financial year 2016-17 (FY17).
“The company’s pending order as on September 30 was approx. Rs 2,926 crore. The mew EHV cables line at Chopanki plant will be operational within a month and major amount of capex has already been done till date,” KEI Industries said in a release.
At 02:18 pm, the stock was up 8% at Rs 134 on BSE, as compared to 0.13% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.31 million shares changed hands on BSE and NSE so far.
Total income from operations grew 2.9% at Rs 676 crore in Q2FY17 against Rs 656 crore in Q2FY16. Total expenditure increased by 1.9% at Rs 616 crore on YoY basis.
KEI Industries said the company is hopeful to achieve 12 to 15 % growth in term of value in the financial year 2016-17 (FY17).
“The company’s pending order as on September 30 was approx. Rs 2,926 crore. The mew EHV cables line at Chopanki plant will be operational within a month and major amount of capex has already been done till date,” KEI Industries said in a release.
At 02:18 pm, the stock was up 8% at Rs 134 on BSE, as compared to 0.13% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.31 million shares changed hands on BSE and NSE so far.
