Patel Engineering Q4 net profit more than doubles to ₹71 cr

New Delhi, May 15 (PTI) Patel Engineering has posted an over two-fold jump in consolidated net profit at ₹71.49 crore during the March quarter, mainly on account of reduced expenses.

It had reported a net profit of ₹32.80 crore in the January-March period of the preceding 2024-25 financial year.

The company reduced its expenses to ₹1,311.3 crore from ₹1,498.3 crore in the year-ago quarter, the infrastructure player said in an exchange filing on Thursday.

Total income was at ₹1,456 crore as against ₹1,637 crore in the year-ago quarter.

In a separate statement, the company said its net profit for the entire fiscal year rose by 21.60 per cent to ₹294.50 crore from ₹242.17 crore in FY25.

Total income during the year increased to ₹5,268.5 crore from ₹5,259.6 crore in 2024-25.

"The Q4 and FY26 performance reflects our continued focus on disciplined execution and operational efficiency. During the year, we also improved our debt-equity ratio to 0.27x from 0.43x in FY25," the company's Managing Director, Kavita Shirvaikar, said.

She further noted that encouraging opportunities are emerging across hydropower, tunnelling, irrigation, transportation, and urban infrastructure segments, supported by the government's sustained focus on infrastructure development.

Sharing details of the project pipeline, Patel Engineering said it received new project orders worth around ₹4,400 crore during FY26.

The company has also emerged as the L1 (lowest bidder) for projects worth ₹1,660 crore.

Besides, Patel Engineering signed a Memorandum of Understanding (MoU) for the 144 megawatt Gongri Hydropower project valued at ₹1,700 crore.

The company is involved in civil and other work of the state-owned NHPC 2000 megawatt Subhansiri Lower Hydroelectric project being constructed at about ₹27,000 crore near North Lakhimpur on the border of Arunachal Pradesh and Assam.

The company is also contributing in hydro power projects in neighbouring Nepal (of SJVN) and Bhutan (of Tata Power-Druk Green Power Corporation JV).