Patel Engineering reported Q1FY25 consolidated net profit of Rs 48.17 crore, up 25.81 per cent YoY, from Rs 38.39 crore in Q1FY24. The Q1FY25 revenue came in at The consolidated revenue from operations came in at Rs 1,101.66 crores, down 1.52 per cent YoY from Rs 1,118.61 crores in Q1FY24.
The orderbook in Q1 Q1FY25 stood at Rs 17,901.9 crores comprising 50 projects. The 50 projects include 15 hydroelectric, 19 irrigation, 6 tunnels, 5 roads, and 5 others. The client representation had a major share for the state government departments of 31 projects, Central Government/PSUs 17, and 2 international projects. The projects are across 15 states domestically with an international presence in Nepal.
Kavita Shirvaikar, Managing Director of Patel Engineering said, “The company faced reduced work inflow at several project sites in the last financial year and the first quarter of the current financial year, mainly due to elections and the early monsoon. Despite this, Patel Engineering met expectations in Q1 FY25. “The firm also received recognition for its strong financial performance with an upgrade in its credit rating this quarter to A-.
Commenting on the results, Rahul Agarwal, Acting CFO, added, “We remain committed to maintaining our momentum, driven by a relentless focus on productivity and efficiency, setting a strong foundation for a promising fiscal year.”
He reiterated that the company is intensifying its strategic efforts to enhance resilience and capitalize on the vast potential that lies ahead. However, in the last month, Patel Engineering saw a decline in its performance as its share price plunged 10.53 per cent and a drop of 26.10 per cent in the past six months.
