Salasar Techno Engineering Q3 result: Net profit zooms more than 50%; stock jumps 4%

Shares of Salasar Techno Engineering jumped around 4 per cent in early morning deals on Monday on the back of strong third-quarter numbers. The counter quotes Rs 46.46.30 apiece on NSE, up around 3.60 per cent.

The New Delhi-based construction engineering firm had on Saturday released its December quarter results, registering around 54 per cent growth in net profit at Rs 10.69 crore on YoY basis. The net profit in the corresponding quarter in FY22 stood at Rs 6.95 crore. 

In the preceding quarter of FY23 (July to September), the company had reported a total comprehensive income of Rs 7.51 crore.

The company in an exchange filing said that the jump in profit was mainly on account of higher revenues.

The company's total income in the December quarter rose 39 per cent to Rs 240.93 crore. It had reported a total income of Rs 173.95 crore in the year-ago quarter.

The expenses during the quarter under review came at Rs 226.54 crore as compared to Rs 164.39 crore in December FY22.

In the first 9 months of FY23, the company reported a total comprehensive income after tax at Rs 25.52 crore as against Rs 24.32 crore in the corresponding period last fiscal.

Salasar Techno Engineering recently bagged an order worth Rs 143 from Nepal Electricity Authority (NEA). This was the first-ever engineering, procurement and construction order from a foreign country for the company.

Shares of Salasar Techno have delivered a whopping 107 per cent return in the past one year. It has surged more than 50 per cent return in the past 6 months.

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