Patel Engineering shares jumped 5.7 per cent in trade and registered an intraday high of Rs 51.9 per share on BSE. The buying in the stock came after the company reported healthy Q2FY25 results.
Around 1:15 PM, Patel Engineering shares were up 3.3 per cent at Rs 50.68 per share on BSE. In comparison, the BSE Sensex was down 0.76 per cent at 78,073.98. The market capitalisation of the company stood at Rs 4,279.30 crore. The 52-week high of the stock was at Rs 79 per share on BSE and 52-week low of the stock was at Rs 46.1 per share.
Patel Engineering reported its Q2 results in market hours on Wednesday. The filing showed that the company's net profit rose 95.2 per cent to Rs 73.4 crore as compared to Rs 37.6 crore a year ago.
The revenue from operations rose 15 per cent to Rs 1,174.3 crore as compared to Rs 1,021.3 crore a year ago.
The Earnings before interest, tax, depreciation, and amortisation (Ebitda) for the second quarter stood at Rs 162.3 crore from Rs 140 crore a year ago.
The Ebitda margins of the company for the quarter under review stood at 13.8 per cent as compared to 13.7 per cent.
Patel Engineering's order book as of September 30, 2024, stood at Rs 17,260.7 crore. Additionally, the company was declared lowest bidder for a Rs 240 crore hydropower project from NHPC Ltd. at the Teesta-V Power Station in Sikkim, reinforcing its position in the hydropower sector and contributing to this quarter's strong performance.
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The company is a leading Indian infrastructure and construction company with a rich legacy that spans over seven decades. Founded in 1949, the company has earned a strong reputation for its expertise in executing large-scale projects across sectors such as hydropower, roads, bridges, tunnels, irrigation, and urban infrastructure.
The company is particularly well-known for its work in hydroelectric power generation, having completed several large hydropower projects in India and abroad. The company has also diversified into the construction of highways, irrigation systems, metro rail projects, and mining infrastructure. With a presence in both domestic and international markets, Patel Engineering continues to be a key player in the infrastructure development space, focusing on delivering complex engineering solutions that support national development goals.
In the past one year, Patel Engineering shares have gained 3.7 per cent against Sensex's rise of 21 per cent.