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KEC posts 62% decline in net

Oct 29, 1999

KEC International has posted a 62% decline in net profits for the quarter ended 30th September 1999. The company has suffered on account of a faster growth in expenditure and depreciation (up 16% and 25% respectively). Net sales growth was 13% during the period. Net profit margin declined drastically to 1.6%. It was 4.7% during the same period last year.

  2QFY2000 2QFY1999 Change
Net Sales 2,299 2,043 12.5%
Other Income 68 70 -2.3%
Expenditure 2,111 1,821 15.9%
Interest 165 160 3.0%
Depreciation 46 37 25.4%
Profit before Tax 45 95 -52.6%
Tax 9 - NM
Profit after Tax 37 95 -61.7%
Net profit margin 1.6% 4.7%  

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