Patel Engineering Q3 results: Net profit grows 14.5% to Rs 80 crore

Patel Engineering Ltd on Wednesday reported 14.49 per cent rise in consolidated net profit at Rs 80.24 crore for the quarter ended December 2024, supported by higher income.

It had clocked a net profit of Rs 70.24 crore in the same period a year ago, the company said in an exchange filing.

Total income rose to Rs 1,265 crore from Rs 1,076 crore a year ago. Expenses stood at Rs 1,125 crore as against Rs 1,030.94 crore in the third quarter of last fiscal.

"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," MD Kavita Shirvaikar said in a statement.

The company's order book as on December 31, 2024 stood at Rs 16,396.4 crore.

Mumbai-based Patel Engineering is an engineering, procurement, and construction (EPC) firm with a strong presence in tunnels and underground works for hydroelectric and dam projects.