Construction engineering major Salasar Techno Engineering has released its fourth quarter earnings. Its consolidated net profit more than doubled on a year-on-year basis in the January-March period led by its engineering, procurement and construction (EPC) projects, according to an exchange filing by the New Delhi-based company.
The company posted a net profit of Rs 14.7 crore for the quarter under review, as against Rs 7.2 crore in the same quarter last fiscal. 10.6 crore for the period ending December 31, 2022.
Income from operations increased to Rs 294.6 crore in the last quarter of FY23 from Rs 212 crore in the comparable period.
Total expenses increased from Rs 204 crore to Rs 276 crore in the March 2022 quarter. As per the filing, the company has total assets of Rs 914.5 crore as on March 31, 2023. The EPS also increased from Rs 0.25 in Jan-March of FY22 to Rs 0.48 in the last three months of FY23.
For the full FY23, the engineering major’s net profit stood at Rs 40.25 crore, showing a growth of nearly 28 per cent from FY22, when it had registered 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 received orders worth Rs 143 from the Nepal Electricity Authority (NEA) in the third quarter. This was the first ever engineering, procurement and construction order for the company from a foreign country.
Shares of Salasar Techno have given a stupendous return of 94 per cent in the last one year. There has been a tremendous jump of 750 per cent in the counter in three years. The stock closed at Rs 45.23, up over 5 per cent, on the BSE during Friday trade. The market valuation of the company is Rs 1,427 crore.
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