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Shares of KSB Pumps were dipped 7% to Rs 607 on the National Stock Exchange (NSE) after the company's net profit dropped over 50% to Rs 6.41 crore for the quarter ended March 31, 2015, due to higher other expenditure. The company had recorded a profit of Rs 15.13 crore in the year ago quarter.
Net sales grew 9% at Rs 188 crore against Rs 172 crore in the corresponding quarter of previous year. Total expenditure increased by 19% to Rs 184 crore over the previous year quarter, KSB Pumps said in a statement.
The stock opened at Rs 640 and touched a low of Rs 600 on the NSE. Till 1331 hours, a combined 32,041 shares changed hands on the counter on the NSE and BSE.
Net sales grew 9% at Rs 188 crore against Rs 172 crore in the corresponding quarter of previous year. Total expenditure increased by 19% to Rs 184 crore over the previous year quarter, KSB Pumps said in a statement.
The stock opened at Rs 640 and touched a low of Rs 600 on the NSE. Till 1331 hours, a combined 32,041 shares changed hands on the counter on the NSE and BSE.
