Patel Engineering Q2 net up 20% at Rs43 crore

Patel Engineering Q2 net up 20% at Rs43 crore

Mumbai: Construction firm Patel Engineering today announced a consolidated net profit of Rs42.58 crore for the second quarter ended 30 September, up 19.84% over the corresponding period a year-ago.

The company had a consolidated net profit of Rs35.53 crore in the same quarter in 2007, Patel Engineering Ltd said in a filing to the Bombay Stock Exchange.

The consolidated net sales of the company rose to Rs441.81 crore for the quarter under review from Rs338.77 crore in the year-ago period.

For the six month ended 30 September, 2008, the company posted a consolidated net profit of 7.57 crore, against 62.57 crore a year ago, up 23.97%.

On a standalone basis, the company posted a net profit of Rs33.49 crore in the September quarter as against Rs32.44 crore during the same period last fiscal.

The standalone net income of the engineering firm rose to 309.18 crore in the Q2 of the current financial year from 235.77 crore over the same period previous fiscal.

Shares of the company were trading at Rs170.90, down 3.66% in the afternoon trade on the BSE.

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