Gensol Engineering crosses significant milestone of Rs100 crore revenue in Q1FY23; stock climbs ~2%

21 Jul 2022 , 10:37 AM

Gensol Engineering Limited that is has crossed the important revenue milestone of Rs100 crore for Q1FY23, which is a strong harbinger of growth, given that the company reported a total standalone revenue of Rs155.85 crore for the entire FY22.

Gensol Engineering saw record quarterly revenues in Q1FY23 as a result of its unwavering commitment to quality, customer delight, and strong collaboration with vendors, as well as its continued strong focus on service quality.

The Company believes that the solid results demonstrate the sector's ongoing positive momentum and is optimistic about the remainder of the fiscal year. The Company continues to expand its national footprint while increasing project sizes, demonstrating its sharpening project delivery skills.

The Company expects the same growth trend to continue; however, its expectations for future quarter performance are based on information available at the time of this release and are subject to changing conditions, many of which are beyond its control, stated the company in media reports.

At around 10.29 AM, Gensol Engineering was trading 1.59% higher at Rs802.45 against its previous close of Rs789.90 on BSE. So far, it hit intraday high and low of Rs829.35 and Rs760 respectively.