Salasar Techno shares rise after Q2 numbers; PAT jumps 21%

Shares of Salasar Techno Engineering Ltd rose during the trading session on Monday after the company announced its results for the period ended on September 30, 2023. The company had announced its earnings on Wednesday, through an exchange filing with the bourses.

Salasar Techno Engineering reported a 21 per cent rise on a year-on-year (YoY) basis to net profit of Rs 9.05 crore in the September 2023 quarter, compared to a net profit of Rs 7.51 crore in the year ago period. However, its net profit came in at Rs 11.05 crore in the June 2023 quarter.

Salasar Techno's revenue from operations increased more than six per cent YoY to Rs 275.35 crore in the second quarter of the ongoing fiscal year. Its revenue from operations stood at Rs 258.78 crore in the year-ago period and Rs 262.35 crore in the preceding period.

Shares of Salasar Techno Engineering gained more than 2 per cent to Rs 47.23 apiece on Wednesday, commanding a total market capitalization close to Rs 1,500 crore. The scrip had settled at Rs 46.41 in the previous trading session. The stock has gained 70 per cent from its 52-week low.

For the six-month ended September 30, 2023, Salasar Techno reported a net profit of Rs 19.2 crore, up 30 per cent YoY, compared to a bottomline of Rs 14.77 crore in the year ago period. Its revenue from operations increased 14 per cent YoY to Rs 537.21 crore in the H1FY24.

New Delhi-based Salasar Techno Engineering, incorporated in 2006, is a leading player in the engineering, designing, procurement, fabrication, galvanization, and EPC sectors for rural electrification, power transmission lines and solar power plants. 

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