Despite there being a subdued order inflow in the last financial year 2024 due to elections and early monsoon at a few project sites, Patel Engineering, a company engaged in integrated infrastructure and construction services has reported a consolidated net profit of Rs 48.17 crore in the first quarter of the current financial year (Q1FY25).
The revenue from operations for Q1FY25 stands at Rs 1,101.66 crore.
As per the quarterly financial results of the company, the consolidated profits after tax (Pat) or the net profit has witnessed a 25.81 per cent year-on-year (YoY) growth. The Pat was Rs 38.29 crore in Q1FY25. However, the standalone net profit has reported a 47.87 per cent YoY dip to Rs 68.16 crore in Q1FY25 from Rs 130.76 crore a year ago. The Q1FY24 Pat includes an exceptional income of Rs 91.92 crores, as per the company statement.
The consolidated revenue from operations in the recently concluded quarter stood at Rs 1,101.66 crore, marking a 1.52 per cent YoY decline as compared to Rs 1,118.61 crore in Q1FY24. The standalone revenue stood at Rs 1,082.44 crore in the quarter, witnessing a 0.76 per cent YoY drop.
As far as the earnings before interest, taxes, depreciation and amortisation (EBITDA) is concerned, the operating EBITDA of the company was Rs 168.65 crore in the quarter, a 1.12 per cent YoY decline from Rs 170.56 crore in Q1FY24. The standalone operating EBITDA grew to Rs 161.28 crore in Q1FY25 from Rs 152.21 crore in Q1FY24, registering a 5.96 per cent YoY growth.
Kavita Shirvaikar, Managing Director, Patel Engineering Limited said, “We are pleased to report a stable and consistent start to the fiscal year with our revenue at Rs 1,101.66 crore and still increasing profits by 25.81 per cent from Rs 38.29 Cr to Rs 48.17 Cr, despite there being a subdued order inflow in last FY 24 and Q1 FY 25 due to elections and early monsoon at few project sites.”
“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,” stated the Acting Chief Financial Officer (CFO) Rahul Agarwal.
