Shares of Patel Engineering have witnessed a remarkable 12% surge today, reaching ₹ 65.95 on the Bombay Stock Exchange (BSE). This upward trajectory is attributed to the company’s impressive financial performance in the fourth quarter of the fiscal year.
Patel Engineering’s net profit for Q4 surged by an impressive 83%, rising from ₹ 77 crore in the corresponding quarter of the previous year to a robust ₹ 141 crore. This surge in profitability was fueled by an 11.5% increase in revenue from operations, which climbed to ₹ 1,343 crore from ₹ 1,205 crore in the same period last year.
The company’s EBITDA, a measure of operating profitability, also experienced a significant 41% increase to ₹ 238 crore in Q4. This translates to an improvement in EBITDA margins from 14% to 17.7% compared to the corresponding quarter of the previous fiscal year.
Patel Engineering’s strong financial performance is a testament to its expertise in civil engineering and construction, particularly in hydro projects, dams, tunnels, roads, and railways. The company’s consistent growth over the past three years, with gains of 358% and 153% in the past three and two years, respectively, is a testament to its long-term potential. The stock’s current trading position above all major moving averages further reinforces its upward momentum.
The surge in Patel Engineering’s share price has pushed the company’s market capitalization to ₹ 5,237 crore, reflecting the growing investor confidence in its business prospects. The company’s robust financial performance and strong fundamentals position it well for continued growth and further value creation for its shareholders.
