KSB shares zoom 20% to 52-week high driven by strong Q2 results

Pumps and valve manufacturer KSB's shares zoomed on Thursday after the company reported a strong set of quarterly numbers. The KSB stock zoomed by as much as Rs 461.5 or 20 per cent to hit Rs 2,695.00 apiece on NSE, surpassing an earlier 52-week peak of Rs 2,356.9 touched in May.    

KSB shares finished 17.08 per cent lower at Rs 2,695.00 apiece on NSE.

KSB Q1 results

After market hours on Wednesday, KSB reported a consolidated net profit of Rs 63 crore for the quarter ended June 30, marking a jump of 32.9 per cent compared with the corresponding period a year ago.

Its revenue grew 31.9 per cent on a year-on-year basis to Rs 591 crore for the June quarter and margin — a key measure of profitability — improved by 73 basis points to 14.36 per cent.

The company follows a January-December financial year.

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