With a strong Q2 performance, Patel Engineering’s shares are up 6%; PAT is up 95% and rev is up 15%.
Shares of Patel Engineering surged 5.7% during trading, reaching an intraday high of Rs 51.9 on the BSE. Following the company’s positive Q2FY25 results, the stock was purchased.
Patel Engineering’s stock was up 3.3% at Rs 50.68 per share on the BSE at 1:15 PM. The BSE Sensex, on the other hand, fell 0.76 percent to 78,073.98. The company’s market capitalization was Rs 4,279.30 crore. The stock’s 52-week high on the BSE was Rs 79 per share, and its 52-week low was Rs 46.1 per share.
On Wednesday during market hours, Patel Engineering released its Q2 results. The company’s net profit increased 95.2% to Rs 73.4 crore from Rs 37.6 crore a year earlier, according to the statement.
Operational income increased by 15% to Rs 1,174.3 crore from Rs 1,021.3 crore in the previous year.
For the second quarter, earnings before interest, tax, depreciation, and amortization (Ebitda) were Rs 162.3 crore, up from Rs 140 crore in the same period last year.
The company’s EBITDA margins for the reviewed quarter were 13.8%, down from 13.7% the previous quarter.
As of September 30, 2024, Patel Engineering had an order book worth Rs 17,260.7 crore. The business further strengthened its position in the hydropower industry and contributed to this quarter’s impressive performance by being named the lowest bidder for a Rs 240 crore hydropower project from NHPC Ltd. at the Teesta-V Power Station in Sikkim.
With a long history spanning more than 70 years, the business is a prominent infrastructure and construction firm in India. Since its founding in 1949, the business has gained a solid reputation for its proficiency in carrying out major projects in a variety of industries, including irrigation, highways, bridges, tunnels, hydropower, and urban infrastructure.
Having finished a number of significant hydropower projects in India and beyond, the organization is especially well-known for its work in the production of hydroelectric electricity. The business has also expanded into the building of mining infrastructure, metro rail projects, irrigation systems, and roadways. Patel technical, a major participant in the infrastructure development sector with a presence in both local and foreign markets, specializes in providing intricate technical solutions that advance national development objectives.
Patel Engineering’s stock has increased 3.7% over the last year, while the Sensex has up 21%.
Disclaimer: The information in the aforementioned article is news and educational in nature; it is not a suggestion for a purchase or sale. Before making any financial decisions, users are advised by TraderPulse to consult with qualified professionals.
