Earlier, the company reported a net profit of Rs 16.76 crore in the October-December period of the preceding 2023-24 financial year, the company said in an exchange filing.
Mumbai: Salasar Techno Engineering Ltd (STEL) has informed exchanges about that Infomerics Valuation and Ratings Pvt. Ltd. has revised the rating for the company’s long term & short-term bank facilities. According to the information provided, Infomerics has changed the company’s earlier rating of IVR A/Positive (IVR A with Positive Outlook) to IVR A/RWDI i.e. “Rating Watch with Developing Implication (RWDI)”.
This means that the company’s rating is now being monitored and it can move either up or down in the future.
Quarterly Results
Earlier, Salasar Techno Engineering Ltd said it has posted a 28 per cent rise in consolidated net profit to Rs 12 crore in the December quarter, aided by higher income.
It had reported a net profit of Rs 16.76 crore in the October-December period of the preceding 2023-24 financial year, the company said in an exchange filing.
The company’s total income rose to Rs 375.89 crore from Rs 304.34 crore in the year-ago period.
Its expenses were Rs 359.64 crore during the quarter under review against Rs 281.21 crore a year ago.
Salasar Techno Engineering (STEL) is a steel structural manufacturer and EPC (engineering, procurement and construction) infrastructure company, catering to telecom, energy and railways sectors.
