New Delhi: Patel Engineering on Tuesday said its net profit in March quarter nosedived to Rs 34.7 crore on account of higher provisions.
The company had reported a net profit of Rs 140.9 crore in January-March period of 2023-24 financial year, it said in an exchange filing.
However, total income increased by 19 per cent to Rs 1,637.2 crore from Rs 1,374.3 crore in the year-ago period.
"The exceptional items for the quarter ended March 31, 2025 of Rs 871.09 million (Rs 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 Rs 1,498.3 crore as against Rs 1,227.7 crore in the same quarter last financial year.
Revenue surpassed Rs 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 Rs 15,218 crore as of March 31, 2025 and further have orders of around Rs 2,500 crore, she said.
Patel Engineering has a presence in hydropower, tunnelling, and irrigation sector.
Its shares were trading at Rs 42 apiece, down 5.87 per cent on BSE.
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