Patel Engineering profit grows 26% to Rs 48.17 crore in April-June
The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.
)
Patel Engineering Ltd on Tuesday reported a 25.81 per cent rise in its consolidated net profit to Rs 48.17 crore in the April-June quarter of 2024.
It had posted a Rs 38.29 crore net profit from operations during the year-ago period, the company said in an exchange filing.
The company's revenue from operations declined by 1.52 per cent to Rs 1,101.66 crore in the June quarter.
It was at Rs 1,118.61 crore in the year-ago period.
Patel Engineering's Managing Director Kavita Shirvaikar said, "Our focus remains on delivering long-term value for our stakeholders while continuously enhancing operational efficiency and output."
"With this strong foundation in place, we are poised to build a brighter future for Patel Engineering Limited and creating lasting value for India's infrastructure development," she added.
The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
03:24 PM IST
Patel Engineering offloads remaining 9.99 percent equity stake in Welspun Michigan Engineers
ICICI Direct initiates coverage on Patel Engineering; stock soars over 6.50%; know rating and target price
Ace investor Vijay Kedia pares stake in these 2 stocks in Q4
Q4 Results 2022: Zomato's net loss widens to Rs 360 cr on higher expenses; Ramco Cement's profit dips, Patel Engineering back in black