Valecha Engineering to issue 1 bonus for 2 shares

Mumbai, Aug 1 (UNI) The board of Valecha Engineering Ltd has recommended bonus shares in the ratio of 1:2 (1 bonus share for every 2 shares held).

The record date for the bonus issue is yet to be announced.

Valecha Engineering Ltd, a leading infrastructure development and construction company, has recorded a 79 per cent increase in sales at Rs 93.39 crore for the first quarter ended June 30 as compared to Rs 52.14 crore during the first corresponding period a year ago.

With this noteworthy performance, the order book position of Valecha Engineering has reached near Rs 1,000 crore mark.

The company has reported a net profit up by 48 per cent of Rs 3.57 crore for the first quarter ended June 30 as compared to Rs 2.41 crore during the same quarter previous fiscal.

Further, on a paid-up capital of Rs 794.89 lakh, the earnings per share stands at Rs 4.50 for first quarter ended June 30 as compared to Rs 3.49 during the corresponding period previous year.

Commenting on the performance of the first quarter, Valecha Engineering Ltd's Managing Director Jagdish Valecha said ''As the infrastructure activity is our key segment, the rise in the activity has been reflected in our top and bottom line.'' UNI