Patel Engineering Q4 profit slumps to ₹35 crore, shares drop over 4%

Patel Engineering on Tuesday said its net profit in March quarter nosedived to ₹34.7 crore on account of higher provisions.

The company had reported a net profit of ₹140.9 crore in January-March period of 2023-24 financial year, it said in an exchange filing. However, total income increased by 19% to ₹1,637.2 crore from ₹1,374.3 crore in the year-ago period.

At 3:26 PM, shares of Patel Engineering were currently trading 4.78% lower at ₹42.47 apiece on the NSE.

"The exceptional items for the quarter ended March 31, 2025 of ₹871.09 million (₹87.1 crore) {net) include provision made for impairment of investment and loans & advances in associate companies and write off of certain receivables," it said.

Expenses stood at ₹1,498.3 crore as against ₹1,227.7 crore in the same quarter last financial year.

Revenue surpassed ₹5,000 crore for the first time this year demonstrating the company's ability to drive consistent growth while enhancing operational efficiency, MD Kavita Shirvaikar said.

The company has a healthy order book of ₹15,218 crore as of March 31, 2025 and further have orders of around ₹2,500 crore, she said.

Patel Engineering has a presence in hydropower, tunnelling, and irrigation sector. Its shares were trading at ₹42 apiece, down 5.87% on BSE.