Patel Engineering Limited — Updates, 13-11-2024: Press Release

Patel Engineering Limited has announced strong financial results for the quarter and half-year ended September 30, 2024, showcasing impressive resilience in a challenging market environment. Consolidated revenue from operations rose to ₹11,743 Mn, reflecting a year-on-year growth of 14.98%. Operating EBITDA improved to ₹1,622 Mn, marking a 15.80% increase, while net profit surged to ₹808 Mn, up 151% compared to ₹322 Mn in the same quarter last year. The EBITDA margin has also seen a slight improvement, standing at 13.81%.

Total order book as of September 30, 2024, is robust at ₹172,607 Mn, with the company recently becoming the lowest bidder for a ₹2,400 Mn hydropower project at the Teesta-V Power Station in Sikkim. The consolidated gross debt has decreased to ₹14,377 Mn from ₹18,855 Mn earlier in the year, strengthening the company's balance sheet. The management's focus on operational efficiency and strategic project pipeline optimization indicates a positive outlook for sustained growth going forward.