With manufacturing sector exercise growing amid steady overseas inflows, homegrown Salasar Techno Engineering has reported a pointy uptick in its whole earnings in the course of the first quarter of the present monetary yr.
The New Delhi-based agency stated in an trade submitting that its whole earnings in the quarter grew 24 per cent to Rs 262 crore as in comparison with Rs 211 crore in the corresponding interval of the earlier monetary yr.
The net profit in the quarter stood at Rs 10.14 crore for the quarter ended June 30, up 38 per cent from Rs 7.3 crore reported in Q1 FY23. For the total monetary yr 2022–23, the engineering major’s net profit stood at Rs 40.25 crore, displaying a rise of round 28 per cent from FY22, when the identical was reported at Rs 31.4 crore.
The submitting stated that the board has enhanced the borrowing restrict from Rs 700 crore to Rs 1,000 crore in accordance with the Companies Act, 2013. This will assist the administration make investments extra in its operations to spice up manufacturing.
Besides, it has additionally declared a dividend of 10 per cent fairness shares of Re 1 every absolutely paid up.
“Payment of a dividend of 0.10 per equity share, i.e., 10% of the face value of Re 1 each for the financial year ended March 31, 2023, if declared, will be paid within 30 days from the date of the Annual General Meeting,” it stated in the submitting.
Salasar is a metal construction producer and engineering, procurement, and building (EPC) infrastructure firm. The New Delhi-based agency carries out engineering, design, procurement, fabrication, and galvanization work for telecom gamers.
Shares of Salasar Techno have delivered an astounding return of 70 per cent in the previous yr. In three-year, the counter has delivered a return of greater than 400 per cent. It has a market valuation of Rs 1,600 crore.
