Patel Engineering profit grows 26% to Rs 48.17 cr in Q1

New Delhi: 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.