Artson Engineering hit an upper circuit of 5% at Rs 157.25 after the company reported consolidated net profit of Rs 1.31 crore in Q4 FY24 as compared with net loss of Rs 9.96 crore posted in corresponding quarter last year.
Revenue from operations declined 15.12% YoY to Rs 24.87 crore in Q4 FY24 from Rs 29.30 crore posted in Q4 FY23.Pre-tax profit was Rs 0.20 crore during the quarter as compared with Pre-tax loss of Rs 9.22 crore posted in same quarter last year.
Total expenses fell 35.68% YoY to Rs 25.27 crore in Q4 FY24. Cost of material consumed stood at Rs 12.76 (down 25.64%YoY), project execution expenses was at Rs 11.16 crore (down 37.44%YoY) while finance cost stood at Rs 2.77 crore (up 6.54% YoY), employees benefit expenses (up 6.38% YoY) during the period under review.
Artson is an Engineering, Manufacturing and Construction (EMC) contracting company with corporate office in Hyderabad and manufacturing units at Nashik and Umred. AEL has a diversified range of business from Process Equipment Manufacturing for Oil and Gas, Petrochemicals, Power and Metallurgy industry to Construction of bulk liquid storage farms, Industrial piping, Structure Fabrication, Marine platform construction, Plant repairs and other industrial services. the majority stakes in company were taken over by Tata Projects (TPL), in the year 2007 and has remained as subsidiary to TPL since then.
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