Modern Engineering & Projects Q1 Results Revenue ₹1,585.15 Lakhs & Profit After Tax ₹110.58 Lakhs

Modern Engineering & Projects Q1 Results

Modern Engineering & Projects, formerly known as Modern Converters, reported its unaudited financial results for the first quarter that ended on June 30, 2024. The company’s revenue from operations for this quarter was ₹1,585.15 lakhs. This is significantly lower compared to the revenue of ₹4,074.15 lakhs in the previous quarter (March 31, 2024), showing a substantial decrease in income. Along with this, the company earned an additional ₹135.96 lakhs from other sources, making the total revenue ₹1,721.11 lakhs for the quarter.

Modern Engineering & Projects’ expenses, including operating costs, employee benefits, finance costs, depreciation, and other expenses, totaled ₹1,449.92 lakhs. After accounting for these expenses, the profit before tax was ₹135.23 lakhs. However, after subtracting taxes, the final profit for the quarter was ₹110.58 lakhs. This profit is lower than the ₹162.93 lakhs earned in the previous quarter.

Modern Engineering & Projects’ earnings per share (EPS), which indicates how much money each share of stock earned, was ₹3.55 for this quarter. This is also lower than the previous quarter's EPS of ₹5.25, reflecting a decrease in profitability. The company's paid-up equity share capital remained consistent at ₹309.00 lakhs. Overall, the results show that the company experienced a decline in revenue and profit compared to the previous quarter

Here’s a simplified and formatted summary of the unaudited financial results for Modern Engineering and Projects for the quarter ended June 30, 2024, along with comparisons to previous periods:

Modern Engineering & Projects Stock Performance 

Modern Engineering & Projects is a company with a market capitalization of ₹107 crore, which shows its total value in the stock market. The current price of its stock is ₹69.4. Over the past year, the highest price of the stock was ₹87.3, and the lowest was ₹10.2. The stock's price-to-earnings (P/E) ratio is 30.9, meaning investors are paying 30.9 times the company's earnings per share. 

Here is the information in a table format:

Quarterly Results 

Modern Engineering & Projects showed steady financial performance for the Dec 2023, Mar 2024, and Jun 2024 quarters. Sales were Rs. 19.86 crores in Dec 2023, increased significantly to Rs. 40.74 crores in Mar 2024, but then dropped to Rs. 14.49 crores in Jun 2024. Despite fluctuating sales, the company managed to keep its expenses in control, leading to a positive operating profit in all three quarters. 

Here’s the table for the Dec 2023, Mar 2024, and Jun 2024 quarters:

About Modern Engineering & Projects

Modern Engineering & Projects is a company listed on the Bombay Stock Exchange that focuses on building and developing important infrastructure projects. They work on projects through different methods like Build, Operate, and Transfer (BOT) and Hybrid Annuity Mode (HAM), often partnering with the National Highways Authority of India (NHAI). 

Modern Engineering & Projects goal is to improve Indian infrastructure and contribute to the country's growth. They aim to create a positive impact on the lives of people by using advanced technology, skilled professionals, and efficient processes.

Modern Engineering & Projects is committed to designing, building, and maintaining infrastructure that enhances the quality of life and supports economic growth in the communities they serve. They emphasize providing innovative and sustainable solutions to meet the unique needs of their clients. 

Modern Engineering & Projects approach includes rigorous project management, use of cutting-edge technology, and a focus on customer satisfaction. Modern Engineering & Projects values integrity, safety, and sustainability, and they work to ensure a collaborative environment that drives excellence. Their mission is to be a trusted partner in infrastructure development, leaving a lasting legacy of quality and positive impact on society.