In Short:
Patel Engineering Ltd reported a 78% increase in its net profit to ₹140.35 crore for the March 2024 quarter due to increased revenues. The company’s revenue rose by 11% to ₹1,343.18 crore. It has a total order book of ₹18,663 crore as of March 31, 2024. The company focuses on tunnels and underground works for hydroelectric and dam projects. They are optimistic about future growth and continue to focus on financial stability and market resilience.
Patel Engineering Ltd Reports Impressive Growth in Net Profit
Wow, exciting news coming in from Patel Engineering Ltd! They have just revealed a whopping 78 per cent increase in their consolidated net profit after tax, soaring to a remarkable ₹140.35 crore for the March 2024 quarter. This surge in profits is all thanks to a surge in revenues, painting a bright picture for the company’s financial health.
Rise in Revenue and Order Book
Not stopping there, the company also saw an 11 per cent increase in revenue from operations, jumping to ₹1,343.18 crore from ₹1,205.06 crore in the same quarter last year. Their total order book now stands strong at ₹18,663 crore as of March 31, 2024, showcasing a healthy demand for their services.
Key Remarks from Director and CFO
Kavita Shirvaikar, the Whole Time Director and CFO at Patel Engineering Ltd, shared some insightful remarks on this impressive performance. She mentioned, “The company has notched impressive milestones in the last quarter. Our robust financial strides underscore our disciplined cost management ethos and adeptness in capitalizing on emergent prospects. Our vision remains bright, fueled by a buoyant outlook on our company’s potential, all while intensifying our fiscal strategies for greater resilience in the market.”
About Patel Engineering Ltd
This Mumbai-based engineering, procurement, and construction firm specializes in tunnels and underground works for hydroelectric and dam projects, establishing a strong presence in the industry.
Exciting times ahead for Patel Engineering Ltd as they continue on their path to success and growth. Keep an eye out for more exciting news from this dynamic company!
