Patel Engineering Ltd Sees Profits Soar by 95%

Patel Engineering Ltd reported a 95.05% increase in consolidated net profit to Rs 73.44 crore for Q2 FY25, owing to higher revenues. The company's total income rose to Rs 1,230.98 crore. Significant project progress was noted in hydro-power and tunneling sectors, indicating continued growth.

Patel Engineering Ltd announced a remarkable 95.05% rise in consolidated net profit after tax, reaching Rs 73.44 crore in the quarter ending September 30, 2024. The surge in profits is attributed to increased revenues, as detailed in the company's recent regulatory filing.

During the same quarter in the prior year, the Mumbai-based firm reported a net profit after tax of Rs 37.65 crore from its continuing operations. The total income rose substantially to Rs 1,230.98 crore from Rs 1,046 crore year-on-year, marking a significant financial upswing.

The company highlighted substantial advancements in key sectors such as hydro-power, irrigation, and tunneling, underlining Patel Engineering's pivotal role in bolstering India's infrastructural framework. Despite the monsoon season, revenue increased by 14.98%, showcasing their operational prowess and efficiency.

(With inputs from agencies.)