Its adaptability and resilience are evident in the increased turnover of Rs 3200 Cr in the nine - month period, marking a 19.17 percent growth
FinTech BizNews Service
Mumbai, February 12, 2024: Patel Engineering Limited (NSE – PATELENG & BSE – 531120), one of the pioneers in integrated infrastructure and construction services in India has announced its financial results for Q3 and 9M of FY24.
Key Financials at a Glance: Rs. In millions
Particulars (Rs Mn) | Consolidated | Standalone | ||||
9M FY24 | 9M FY23 | YoY Changes | 9M FY24 | 9M FY23 | YoY Changes | |
Revenue from Operations | 32,009.29 | 26,860.83 | 19.17% | 31,551.18 | 26,249.43 | 20.20% |
Operating EBITDA | 4,527.18 | 3,926.11 | 15.31% | 4,325.29 | 3,644.75 | 18.67% |
Net Profit | 1,407.29 | 704.40 | 99.79% | 2,149.97 | 717.70 | 199.56% |
*Diluted EPS from continuing operations (Rs) | 2.02 | 1.19 | Up 83 bps | 2.72 | 1.21 | Up 151 bps |
*not annualized
Particulars (Rs Mn) | Consolidated | Standalone | ||||
Q3 FY24 | Q3 FY23 | YoY Changes | Q3 FY24 | Q3 FY23 | YoY Changes | |
Revenue from Operations | 10,610.05 | 9,546.30 | 11.14% | 10,523.09 | 9,293.89 | 13.23% |
Operating EBITDA | 1,420.88 | 1,401.35 | 1.39% | 1,447.40 | 1,307.12 | 10.73% |
Net Profit | 702.43 | 194.82 | 260.55% | 429.75 | 213.97 | 100.85% |
*Diluted EPS from continuing operations (Rs) | 0.87 | 0.32 | Up 55 bps | 0.55 | 0.38 | Up 17 bps |
*not annualized
Rupen Patel, Chairman & Managing Director, Patel Engineering Limited said, “Our unwavering commitment to excellence, coupled with our expertise in hydropower and irrigation construction, has enabled us to achieve significant milestones. Our adaptability and resilience are evident in our increased turnover of ~ Rs 3200 Cr in the nine - month period, marking a 19.17 percent growth as against the corresponding period in the last year. As we move forward, we remain earnest in our vision to deliver comprehensive solutions through our profound experience and technological prowess. We are confident that the forthcoming quarter and the coming years will sustain the company's upward trajectory through various projects, joint ventures and our commitment towards excellence, quality, performance and reliability.”
Commenting on the result, Ms. Kavita Shirvaikar, Whole time Director & CFO said, “Patel Engineering's pivotal role in key hydropower projects currently being developed and those already in operation in the country, underscores our commitment to infrastructure development and leadership in the industry. With a focus on prudent financial management, this quarter's achievements reflect optimized resource utilization and sustainable profitability which has increased by 260.55% to Rs.70.24 Cr. Our robust order book totaling Rs. 19,134.7 Cr ensures sustained growth and value creation. We remain steadfast in our resolve to fortify shareholder value through sound fiscal strategies and strategic growth initiatives while contribution to quality advancement in the country rests within our core."
