Shares of Patel Engineering gained over 6% on November 13 following impressive Q2FY25 results and a notable reduction in debt. The company reported a consolidated net profit of Rs 80 crore, showing a significant 151% year-on-year growth. Revenue for Q2FY25 rose by 15% to Rs 1,174.3 crore.
Key Q2FY25 Highlights
- Net Profit: Rs 80 crore, up 151% YoY
- Revenue: Rs 1,174.3 crore, up 15% YoY
- EBITDA: Rs 116.2 crore, reflecting a 15.8% increase
- Debt Reduction: Gross debt lowered to Rs 1,437.7 crore from Rs 1,885.5 crore in March 2024
Patel Engineering’s stock traded around 3% higher at Rs 50 by mid-afternoon, although it remains 22% down year-to-date, trailing behind the Nifty 50’s 9% increase this year.
Management’s Perspective
The company has also pointed out that it has grown uninterruptedly despite the challenges thrown by this monsoon season. MD Kavita Shirvaikar was hopeful for growth in the future, too, by expanding their portfolio of projects and bringing about efficiencies in operations. Even CFO Rahul Agrawal has underlined the aptness of disciplined debt and cost management to maintain the financial stability of the firm.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
