Salasar Techno Engineering

EPC player Salasar Techno Engineering Ltd on Wednesday reported a nearly 3.5 per cent rise in consolidated net profit to Rs 10.49 crore in June, on account of higher income. It had posted a net profit of Rs 10.14 crore in the April-June period of the preceding financial year, the company said in a regulatory filing. The company increased its total income to Rs 295 crore in the June quarter from Rs 262 crore a year ago. During the quarter, its expenses stood at Rs 280 crore against Rs 248 crore in the first quarter of FY24. Salasar Techno Engineering Ltd is a steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.

At 02:37 PM; STEL was quoting 13 per cent higher at Rs 107.08, as compared to 1.4 per cent decline in the S&P BSE Sensex

Salasar Techno Engineering Ltd's (STEL) consolidated net profit has doubled to Rs 14.73 crore during the January-March quarter of 2022-23 compared to the year-ago period, helped by higher income. It had clocked a net profit of Rs 7.13 crore in the January-March quarter of 2021-22, according to a regulatory filing. Total income increased to Rs 269.32 crore from Rs 212.71 crore in the year-ago quarter, registering a rise of 35 per cent over the year-ago period. Expenses were at Rs 276.46 crore as against Rs 204.03 crore a year ago. The New Delhi-based firm recently secured its first offshore contract of Rs 143 crore from the Nepal government. STEL carries out engineering, designing, procurement, fabrication, and galvanisation work for telecom players besides manufacturing of steel structurals.

The project received from Nepal Electricity Authority (NEA) will come up in Dang, Rukum East and Baitadi districts of the neighbouring nation

The stock was trading at Rs 385,its highest level since listing on July 25, 2017, rallying 256% against issue price of Rs 108.

The stock rallied 8% to Rs 365 on the BSE in intra-day trade, surging 238% against issue price of Rs 108 per share.

At 11:03 am; the stock was trading at Rs 271, up 150% against its IPO price of Rs 108 per share.