Patel Engineering Share Price Spikes Over 9% As Net Profit Jumps 67% In Q1FY26
Patel Engineering share price advanced 9.38% to Rs 40 apiece, the highest level since July 25.
Patel Engineering Ltd. share price advanced over 9% in Monday's session as the company reported increase in net profit for the first quarter of FY26. Its consolidated net profit increased 67.4% on the year to Rs 80 crore from Rs 47.8 crore.
Patel Engineering's revenue advanced 12% on the year to Rs 1,233 crore during April–June from Rs 1,102 crore. Its Ebitda fell 2% on the year to Rs 165 crore from Rs 169 crore. Its profit margin declined 190 basis points on the year to 13.4% in the first quarter from 15.3%.
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Patel Engineering share price advanced 9.38% to Rs 40 apiece, the highest level since July 25. It was trading 5.29% higher at Rs 38.42 apiece as of 1:46 p.m., compared to 0.57% advanced in the NSE Nifty 50 index.
The stock declined 30.68% in 12 months, and 26.07% on year-to-date basis. Total traded volume so far in the day stood at 3.9 times its 30-day average. The relative strength index was at 49.44.
Three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 68.2%.
