Engineers India Limited Q3 results: Net profit stood at Rs 63.35 crore

Engineers India shares soared to 6.37 percent to Rs 252 as the public sector unit has embarked a consolidated net profit of Rs 63.35 crore, compared to Rs 16.12 crore in the second quarter.

Revenue from operation stood at Rs 867.64 crore in the December quarter, as against 3.02 percent from Rs 842.18 crore in FY23. Moreover, profit before tax grew by 3.52 percent year on year to Rs 71.44 crore in the third quarter.

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The company's revenue from consultancy and engineering projects is standing at Rs 370.37 crore and turnkey project income is maintained at Rs 497.27 crore. The net consolidated net profit surged 111.24 per cent year on year to Rs 329.73 crore. While marginally grown revenue stands at Rs 2475.72 crore.

The company board has meanwhile declared an interim dividend of Rs 2 per equity share for FY24 and the payment of dividend is fixed on 12 February 2024. The company is a public sector enterprise oriented to engineering consultancy and technology licensing. The Government of India has retained 51.32 percent stake in the company.

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