Shares of this construction engineering firm to be in focus as net profit grows 29%

Gensol Engineering shares will be in focus on Monday as the company informed exchanges after the market hours on Friday that it posted a 29 per cent rise in Rs 22.93 crore net profit after tax on a consolidated basis during September quarter.

The company had posted Rs 17.71 crore "net profit after taxes attributable to shareholders of the company" in the same period a year ago, it said in an exchange filing.

The company's total income rose to Rs 346.82 crore in the quarter under review, from Rs 304.87 crore in the July-September quarter of the preceding 2023-24 fiscal year. Also, the smallcap company's expenses reduced to Rs 239.88 crore from Rs 257.51 crore in the corresponding period.

Expenses trimmed to Rs 239.88 crore from Rs 257.51 crore in the year-ago quarter.

Earlier, the counter ended Friday's session at Rs 790.75 - a fall of 2.27 per cent from the previous close of Rs 809.15 on the BSE. The shares of the company, which has a market cap of Rs 2,994.80, have a 52-week high of Rs 1,377.10 and a 52-week low of Rs 720. 

The company has given two bonuses since October 11, 2021. The last bonus offered by the comany was in the ratio 2:1 with an ex-date of October 17, 2023.

Gensol Engineering is a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions.

Earlier, equity benchmark Sensex plunged about 660 points on Friday to crash below the 80,000 level due to widespread selling pressure tracking massive foreign capital outflows and muted earnings growth.

The BSE Sensex plummeted 662.87 points or 0.83 per cent to settle at 79,402.29. During the day, it plunged 927.18 points or 1.15 per cent to 79,137.98.