Q3 Results: Salasar Techno Engineering's profit grows to Rs 17 crore in December quarter

Salasar Techno Engineering Ltd (STEL) on Saturday reported a 56 per cent rise in its consolidated net profit to Rs 16.76 crore for the December quarter. It had posted a net profit of Rs 10.69 crore during the October-December quarter in 2022-23, the company said in an exchange filing. 

The company's total income rose to Rs 304.35 crore from Rs 240.93 crore in the year ago period. Its expenses were at Rs 281.22 crore as against Rs 226.54 crore in the third quarter last fiscal. 

New Delhi-based STEL is a steel structural manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.

Earlier on Thursday, shares of Salasar Techno Engineering traded ex-bonus on Thursday. The company had announced the bonus issue earlier, along with fundraising plans, through an exchange filing with the bourses.

The company announced bonus shares in a 4:1 ratio in December 2023. It meant that eligible shareholders would get four bonus shares with a face value of Re 1 each for every share held by them with a face value of Re 1 each, as on the record date for the issue.