Patel Engineering Ltd on Saturday reported a 78 per cent rise in its consolidated net profit after tax to ₹140.35 crore for the March 2024 quarter on account of higher revenues. It had posted a ₹78.83 crore "net profit after tax (PAT) from continuing operations" during the year-ago period, the company said in an exchange filing. The company's revenue from operations also rose by 11 per cent to ₹1,343.18 crore from ₹1,205.06 crore in the January-March quarter of the preceding 2022-23 fiscal. Its Whole Time Director and CFO Kavita Shirvaikar said, "The company has notched impressive milestones in the last quarter. The Mumbai-based engineering, procurement, and construction firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

Source: The Hindu May 19, 2024 04:17 UTC