Salasar Techno Engineering shares rise after 20% increase in Q2 net profit

Salasar Techno Engineering shares on Wednesday rose after the company reported around 20 per cent jump in second quarter profit.

The stock started positive on the Dalal Street today at Rs 47.05. It made day's high of Rs 47.25. It traded in green at Rs 46.75 when this report was published around 11:15 AM.

The New Delhi-based construction engineering company in a regulatory filing said that it posted 20 per cent increase in consolidated net profit during the September quarter 2023-24. The same stood at Rs 9 crore.

The jump in profit was aided by increased revenues. It had clocked Rs 7.51 crore net profit in the year-ago period.

It reported a total income in September 2023 quarter at Rs 275.66 crore. Expenses were at Rs 263.32 crore in the quarter as against Rs 248.17 crore in the year-ago quarter.

"This quarter has been particularly eventful and successful for us, marked by robust financial performance, significant international order win, and capacity augmentation," a company spokesperson said.

Salasar Techno Engineering carries out engineering, designing, procurement, fabrication and galvanization work for telecom players.