New Delhi-based Salasar Techno Engineering's stock experienced a significant surge on Dalal Street today, following a 20% jump in Q2 profit for the fiscal year 2023-24. The engineering services firm reported a quarterly profit of Rs 9 crore, marking an increase from Rs 7.51 crore during the same period last year.
The firm attributes this notable rise to robust financial performance, a major international order win, and capacity augmentation, according to a recent regulatory filing. The company's total income for the quarter stood at Rs 275.66 crore, compared to expenses of Rs 263.32 crore.
Salasar Techno Engineering provides a range of services including engineering, designing, procurement, fabrication, and galvanization to telecom players. Amidst these positive financial developments, the firm's stock reached a peak at Rs 47.25 today.
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