Patel Engineering Ltd Sees 25.81% Profit Surge Amidst Revenue Dip in Q1 2024

Patel Engineering Ltd reported a 25.81% increase in consolidated net profit, reaching Rs 48.17 crore for the April-June quarter of 2024. This contrasts with a 1.52% drop in revenue to Rs 1,101.66 crore. Managing Director Kavita Shirvaikar emphasized the company's focus on long-term value and operational efficiency.

Patel Engineering Ltd announced a 25.81% rise in consolidated net profit, amounting to Rs 48.17 crore for the April-June quarter of 2024.

This notable profit growth comes despite a slight revenue decline of 1.52%, bringing total revenues down to Rs 1,101.66 crore from the previous year's Rs 1,118.61 crore, as disclosed in an exchange filing.

Managing Director Kavita Shirvaikar expressed the company's commitment to delivering long-term value and enhancing operational efficiency to create lasting impact for India's infrastructure development.

(With inputs from agencies.)