Engineers India (EIL) the PSU Engineering Project Consultancy & Turnkey major clocked 24% earnings growth for the quarter ended December 2011 to Rs 151.26 crore on a sales of Rs 792.50 crore, which was higher by strong 17%. But operating profit was higher by 16% to Rs 182.24 crore facilitated largely by higher sales as operating margin contracted by 20 bps to 23%. However gained by higher other income (up 36%), lower depreciation and lower tax incidence the net profit was higher by 24% to Rs 151.26 crore.
Nine month performance
The standalone sales for the period was higher by 32% to Rs 2473.52 crore. However as OPM contracted by 280 bps to 21.2%, the growth at operating profit was limited to 17% to Rs 524.76 crore. The PBT was higher by 22% to Rs 656.26 crore spurred by higher other income (up 45% to Rs 140.17 crore) and lower depreciation (down 16% to Rs 8.66 crore). But with taxation higher by 18% (to Rs 210.44 crore) in absolute terms, the PAT was higher by 25% to Rs 445.82 crore.
To pay interim dividend of Rs 2 per equity share (or @ 40% ) of Rs 5 face value.
The stock hovers around Rs 265.90.
Engineers India: Results
Engineers India: Segment results