Patel Engineering Ltd. recorded a profit of Rs 80.24 crore, representing a 14.49% rise for the third quarter of the current fiscal 2025 as compared to Rs 70.24 crore for the same period last year.
The company's total income surged to Rs 1,265 crore for the October-December quarter from Rs 1,076 crore for the year-ago period. Its expenses stood at Rs 1,125 crore for the quarter ended December, in contrast to Rs 1,030.94 crore for the same period in the corresponding fiscal 2024.
The company's order book was at Rs 16,396.4 crore as of December.
"Looking ahead, we are enthusiastic about enhancing our operational capabilities, expanding our project portfolio, and driving innovation within our industry."
"The robust foundation we have built over the years fills us with confidence and optimism as we embark on the next phase of growth, consistently delivering outstanding value to our stakeholders," Managing Director Kavita Shirvaikar said in a statement.
Patel Engineering, headquartered in Mumbai, specialises in engineering, procurement, and construction with significant expertise in tunnels and underground projects for hydroelectric and dam developments.
Shares of Patel Engineering closed 3.21% higher at Rs 45.72 apiece, compared to a 0.12% decline in the benchmark Nifty. The stock has fallen 32.01% in the last 12 months.
The two analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 59.7%.
(With inputs from PTI.)
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