New Delhi: Patel Engineering Ltd. (PEL) has registered a multifold jump in its consolidated Net Profit With higher support to Rs 70.2 crore during the quarter ending December 2023 Income, The company said in an exchange filing that it had made a net profit of Rs 19.4 crore during the October-December period of the last 2022-23 financial year.
The company’s total income increased to Rs 1,076.1 crore from Rs 980.6 crore a year ago.
The expenditure in the quarter under review stood at Rs 1,030.9 crore, which was Rs 940.5 crore in the third quarter of the last financial year.
In a separate statement, the company’s CMD Rupen Patel said, “Our adaptability and flexibility is evident in our increased turnover of Rs 3,200 crore in the nine-month period, a growth of 19.17 per cent over the same period last year. ”
He said the company hopes to grow through various projects and joint ventures.
Kavita Shirwaikar, Whole-Time Director and CFO said, “With a focus on prudent financial management, this quarter’s achievements reflect optimized resource utilization and sustainable profitability which grew by 260.55 per cent to Rs 70.24 crore in December, our strong position order book A total of Rs 19,134.7 crore ensures sustained growth and value creation.”
Mumbai-based Patel Engineering is an engineering, procurement and construction (EPC) firm with a strong presence in tunnels and underground works for hydropower and dam projects.