Engineers India spurts as Q3 PAT soars to Rs 63 crore

Engineers India jumped 6.37% to Rs 252 after the company reported a consolidated net profit of Rs 63.35 crore in Q3 FY24 as against Rs 16.12 crore posted in Q3 FY23.

Revenue from operation stood at Rs 867.64 crore in the December quarter, up 3.02% from Rs 842.18 crore recorded in Q3 FY23.

Profit before tax grew by 3.52% year on year to Rs 71.44 crore in the quarter ended 31 December 2023.

The companys revenue from Consultancy & Engineering Projects was at Rs 370.37 crore (up 2.37% YoY) and income from Turnkey Projects was at Rs 497.27 crore (up 3.52% YoY)

For 9M FY24, the companys consolidated net profit soared 111.24% YoY to Rs 329.73 crore. Revenue grew marginally to Rs 2475.72 crore in 9M FY24 from Rs 2450.04 crore reported in 9M FY23.

Meanwhile, the companys board declared an interim dividend of 2 Rs per equity share for FY24. The record date for the purpose of payment of dividend is Monday, 12 February 2024 and it will be paid on and from Friday, 23 February 2024.

Engineers India (EIL) is an engineering consultancy and technology licensing company in the fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other sectors of industry, having a DSIR-recognized R&D center. As of 31 December 2023, the Government of India held a 51.32% stake in the company.

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