Multibagger telecom stock Salasar Techno Engineering allots 4:1 bonus shares, reports strong Q3 results 2024

Bonus shares 2024: The board of directors of Salasar Techno Engineering Limited has allotted bonus shares to the eligible shareholders of the company. The company board announced the allotment of bonus shares while considering the unaudited Q3 results of 2024 of the company. Earlier, the telecom hardware company board had declared the issuance of bonus shares in a 4:1 ratio, setting a record date for bonus shares on 1st February 2024.

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Salasar Techno Engineering informed Indian stock market bourses about the development in an exchange filing saying, "We wish to inform you that the Board of Directors at its meeting held today inter alia: 1. considered and approved the Unaudited Standalone & Consolidated Financial Result of the Company for the quarter and nine months ended December 31, 2023. 2. approved the allotment of 126,28,21,120 Equity Shares of Re. 1/- each by way of bonus issue to such members whose names have appeared in the Register of Members as on February 01, 2024, being the Record Date fixed for the said purpose, in the proportion of 4:1 i.e. 4 (Four) new fully paid-up Equity Share of Re. 1/- each for every 1 (One) existing fully paid-up Equity Share of Re. 1/- each held by them. We are enclosing herewith the Unaudited Standalone & Consolidated Financial Results of the Company for the quarter and nine months ended December 31, 2023 with segment wise report, and Limited Review Report received from the Statutory Auditors of the Company on the said results."

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Salasar Techno Engineering Q3 results 2024

In Q3FY24, Salasar Techno Engineering Ltd reported a total income of ₹304.15 crore, logging a QoQ rise of 10.40 percent against the total income of ₹275.56 crore in Q2FY24. On a YoY basis, the telecom company has managed to report 26.24 percent growth in total income. The company's net profit in Q3FY24 surged to ₹16.75 crore against the net profit of ₹10.77 crore in Q3FY23. In Q2FY24, the telecom hardware company reported a net profit of ₹9.20 crore.

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Salasar Techno Engineering share price history

In the last one month, this telecom stock has delivered over 100 percent return to its positional investors. In the last six months, this multibagger stock has surged over 200 percent. In the last one year, Salasar Techno Engineering share price has risen from ₹9.21 to ₹30.85 apiece level, logging around 235 percent appreciation in this time.

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