Vascon Engineers Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 02:49 am EST
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Vascon Engineers Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 2,802.5 million compared to INR 2,540.2 million a year ago. Revenue was INR 2,820.6 million compared to INR 2,561.1 million a year ago. Net income was INR 185.6 million compared to INR 163.3 million a year ago. Basic earnings per share from continuing operations was INR 0.84 compared to INR 0.75 a year ago. Diluted earnings per share from continuing operations was INR 0.84 compared to INR 0.75 a year ago.
For the nine months, sales was INR 7,018.1 million compared to INR 6,725.9 million a year ago. Revenue was INR 7,098.6 million compared to INR 6,789 million a year ago. Net income was INR 511.2 million compared to INR 498 million a year ago. Basic earnings per share from continuing operations was INR 2.31 compared to INR 2.26 a year ago. Diluted earnings per share from continuing operations was INR 2.31 compared to INR 2.26 a year ago.
Vascon Engineers Limited is an India-based construction engineering company. The Company's segments include Engineering, Procurement and Construction (EPC), Real Estate Development, and Manufacturing and building management system (BMS). The EPC segment includes construction of residential, commercial, industrial and other constructions. The Real Estate Development segment is engaged in the development of residential, hotel premises and industrial park, among others. The Manufacturing and BMS segment includes manufacturing of clean room partition and BMS. Its projects include Redevelopment Project - Residential Project in Santacruz, Mumbai; Tulip Phase 3 - Residential Project in Coimbatore, Tamil Nadu; Forest Edge - Residential Project in Kharadi, Pune, and Forest County - Residential Project in Kharadi, Pune. The Company's subsidiaries include GMP Technical Solutions Private Limited, Almet Corporation Limited, Marvel Housing Private Limited, and Marathawada Realtors Private Limited.