Construction engineering major Salasar Techno Engineering has released its fourth-quarter earnings. According to an exchange filing by the New Delhi-based company, its consolidated net profit in the January-March period more than doubled on a year-on-year basis led by its engineering, procurement and construction (EPC) projects.
The company clocked a net profit of Rs 14.7 crore in the quarter under review vs Rs 7.2 crore in the corresponding quarter of the previous financial year. The same was at Rs 10.6 crore for the period ended December 31, 2022.
Income from operations in the last quarter period of FY23 jumped to Rs 294.6 crore from 212 crore in the comparable period.
The total expenses were reported at Rs 276 crore, up from Rs 204 crore in March 2022 quarter. The company has a total asset of Rs 914.5 crore as on March 31, 2023, according to the filing. EPS also almost doubled from Rs 0.25 in January-March FY22 to Rs 0.48 in the last three-month period of FY23.
For the full FY23, the engineering major’s net profit stood at Rs 40.25 crore, showing an increase of around 28 per cent from FY22 when the same was reported at Rs 31.4 crore.
The board has also declared a final dividend at the rate of Rs 0.10 per share with a face value of Rs 1 each.
Salasar Techno Engineering had in the third quarter bagged an order worth Rs 143 from Nepal Electricity Authority (NEA). This was the first-ever engineering, procurement and construction order for the company from a foreign country.
Shares of Salasar Techno have delivered an astounding return of 94 per cent in the past one year. In three-year, the counter has zoomed a whopping 750 per cent. The stock closed more than 5 per cent up at Rs 45.23 on BSE during Friday’s trade. The company has a market valuation of Rs 1,427 crore.