Engineers India shares rallied over 5 per cent after the company posted 50.07 per cent rise in its net profit at Rs 80.30 crore for first quarter ended June 30, 2016 as against Rs 53.51 crore for the same quarter in the previous year. However, total income of the company decreased by 11.82 per cent to Rs 396.04 crore for quarter under review from Rs 449.12 crore for the quarter ended June 30, 2015.
Shares of the company were trading 4.23 per cent up at Rs 241.50 at 11.47 am. The scrip opened at Rs 243.50 and touched a high and low of Rs 245.20 and Rs 238.05, respectively, in trade so far. Later, the share price of the company settled 8.33 per cent up at Rs 251.
The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week-high of Rs 252.00 on Jan 1, 2016 and a 52-week-low of Rs 143.25 on Feb 17, 2016.
The promoters holding in the company stood at 59.37 per cent, while Institutions and Non-Institutions held 27.54 per cent and 13.09 per cent respectively.
Engineers India is a total solutions consultancy company and EPC contractor in petroleum refining, petrochemicals, pipelines, oil and gas terminals and storages, fertilizers, mining & metallurgy and infrastructure projects. The company is also diversifying into water and waste management and has made inroads into nuclear, solar and thermal power sectors.