Construction & Engineering company Patel Engineering announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue from Operations: Rs 10,610.05 million in Q3FY24 compared to Rs 9,546.30 million in Q3FY23, showing a growth of 11.14%. Operating EBITDA: Rs 1,420.88 million in Q3FY24 compared to Rs 1,401.35 million in Q3FY23, indicating a slight growth of 1.39%. Net Profit: Rs 702.43 million in Q3FY24 compared to Rs 194.82 million in Q3FY23, representing a significant growth of 260.55%. Diluted EPS from continuing operations: Rs 0.87 in Q3FY24 compared to Rs 0.32 in Q3FY23, showing an increase of 55 basis points. Total Order Book as on December 31, 2023 stands at Rs 1,91,347 million (including L1) Standalone Q3FY24: Revenue from Operations: Rs 10,523.09 million in Q3FY24 compared to Rs 9,293.89 million in Q3FY23, indicating a growth of 13.23%. Operating EBITDA: Rs 1,447.40 million in Q3FY24 compared to Rs 1,307.12 million in Q3FY23, showing a growth of 10.73%. Net Profit: Rs 429.75 million in Q3FY24 compared to Rs 213.97 million in Q3FY23, representing a growth of 100.85%. Diluted EPS from continuing operations: Rs 0.55 in Q3FY24 compared to Rs 0.38 in Q3FY23, showing an increase of 17 basis points. Consolidated 9MFY24: Revenue from Operations: Rs 32,009.29 million for 9MFY24 compared to Rs 26,860.83 million for 9MFY23, showing a growth of 19.17%. Operating EBITDA: Rs 4,527.18 million for 9MFY24 compared to Rs 3,926.11 million for 9MFY23, indicating a growth of 15.31%. Net Profit: Rs 1,407.29 million for 9MFY24 compared to Rs 704.40 million for 9MFY23, representing a significant growth of 99.79%. Diluted EPS from continuing operations: Rs 2.02 for 9MFY24 compared to Rs 1.19 for 9MFY23, showing an increase of 83 basis points. Standalone 9MFY24: Revenue from Operations: Rs 31,551.18 million for 9MFY24 compared to Rs 26,249.43 million for 9MFY23, indicating a growth of 20.20%. Operating EBITDA: Rs 4,325.29 million for 9MFY24 compared to Rs 3,644.75 million for 9MFY23, showing a growth of 18.67%. Net Profit: Rs 2,149.97 million for 9MFY24 compared to Rs 717.70 million for 9MFY23, representing a substantial growth of 199.56%. Diluted EPS from continuing operations: Rs 2.72 for 9MFY24 compared to Rs 1.21 for 9MFY23, showing an increase of 151 basis points. Rupen Patel, Chairman & Managing Director, Patel Engineering said, “Our unwavering commitment to excellence, coupled with our expertise in hydropower and irrigation construction, has enabled us to achieve significant milestones. Our adaptability and resilience are evident in our increased turnover of ~ Rs 3,200 crore in the nine months, marking a 19.17 percent growth as against the corresponding period in the last year. As we move forward, we remain earnest in our vision to deliver comprehensive solutions through our profound experience and technological prowess. We are confident that the forthcoming quarter and the coming years will sustain the company's upward trajectory through various projects, joint ventures, and our commitment towards excellence, quality, performance, and reliability.” Commenting on the result, Kavita Shirvaikar, Whole-time Director & CFO said, “Patel Engineering's pivotal role in key hydropower projects currently being developed and those already in operation in the country, underscores our commitment to infrastructure development and leadership in the industry. With a focus on prudent financial management, this quarter's achievements reflect optimized resource utilization and sustainable profitability which has increased by 260.55% to Rs 70.24 crore. Our robust order book totaling Rs 19,134.7 crore ensures sustained growth and value creation. We remain steadfast in our resolve to fortify shareholder value through sound fiscal strategies and strategic growth initiatives while contribution to quality advancement in the country rests within our core." Result PDF
Construction & Engineering company Patel Engineering announced Q2FY24 results: Revenue for Q2FY24 is Rs 10,213.13 million a growth of 23.0% YoY Operating EBITDA for Q2FY24 at Rs 1,400.67 million up by 18.08% as compared to Rs 1,186.16 million in Q2FY23 Net Profit for Q2FY24 at Rs 321.98 million up by 63.38% as against Rs 197.07 million in Q2FY23 Total order book as of September 30, 2023, stands at Rs 2,00,033 million (including L1) Rupen Patel, Chairman & Managing Director, Patel Engineering said, “With the substantial investment in infrastructure, the company has recorded impressive progress in the second quarter of FY24. With a surge in revenue and profitability, we've showcased our adaptability and resilience in the face of economic challenges. Our enthusiasm knows no bounds as we embark on India's largest-ever Hydropower Project, The Dibang Hydropower Project while fostering effective collaborations and cooperation. Achieving a turnover of Rs 10,213.13 million, representing an impressive 23.00 percent increase from the previous year, our commitment to sustainable infrastructure development remains unwavering. As we move forward, we remain focused on our vision for sustainable infrastructure development and are excited about the opportunities that lie ahead in terms of various projects and executions. We are confident that the forthcoming quarters and the ongoing financial year will sustain the company's upward trajectory.” Commenting on the result, Kavita Shirvaikar, Whole-Time Director & CFO said, “The company has achieved significant milestones, underscoring our commitment to financial discipline and strategic decision-making acumen. This quarter's performance is a testament to our effective cost management, optimized revenue generation, and robust profitability. Our current order book stands at 2,00,033 million, encompassing ongoing developments and projects. We extend gratitude to our shareholders and authorities for their continued trust in the company. We remain focused on sustaining this positive momentum, exploring new opportunities, and enhancing shareholder value through the reinforcement of fiscal strategies and the adoption of key growth drivers." Result PDF
Patel Engineering announced Q1FY24 results: Revenue for Q1FY24 is Rs 11,186.11 million a growth of 24.14% YoY Operating EBITDA reported at Rs 1,705.63 million as compared to Rs 1,338.60 million in Q1FY23 Net profit at Rs 382.88 million as against Rs 312.50 million in Q1FY23 Total order book as on June 30, 2023, stands at Rs 2,00,142 million (including L1) Rupen Patel, Chairman & Managing Director, Patel Engineering, said, “The company has exceeded forecasts for the quarter and demonstrated exceptional performance compared to the same period in the previous quarter. All of our business segments experienced significant revenue increases this quarter. The influx of recent projects will contribute significantly towards improvement in the company's overall financial performance. We are confident that the upcoming quarters in the current financial year will maintain the company's upward trend. To help achieve maximum output for the upcoming quarters, we remain focused on sustaining our growth in core EPC business and taking full advantage of the opportunities available towards the development of India’s Infrastructure and thereby improving stakeholder value in the long run.” Commenting on the result, Kavita Shirvaikar, Whole-time Director & CFO said, “The company has achieved commendable advancements during the first quarter of FY24. It has made substantial strides in terms of profits and we will persist in efficiently delivering and upholding the company's productivity level in the coming future. Our resilient financial performance is a testament to our conscientious approach to cost management and our capacity to seize emerging opportunities. Casting our gaze towards the future, we maintain an optimistic outlook regarding the potential of our company, simultaneously concentrating on fortifying our fiscal strategies." Result PDF