Patel Engineering, a civil infrastructure company has posted a consolidated net profit growth of 20 per cent at Rs 42.58 crore during the quarter ended September 30, 2008, as compared to Rs 35.53 crore posted in the corresponding quarter on the previous year.
The company's consolidated net sales grew by 30 per cent at Rs 441.81 crore during the same period as against Rs 338.77 crore posted in the same quarter a year ago.
Keeping check with inflation, the company has shown an increase of more than 31 per cent in total expenditure at Rs 385 crore as compared to 293 crore of the same period last year.
Rupen Patel, managing director, Patel Engineering, said "With several big infrastructure project expected to take-off in the coming months, we continue to remain bullish on the business environment. The government realises this significance of infrastructure development with an increase in public-private partnerships and greater scope for foreign investment in comprehensive projects."
At 1215 hrs, the company's share price was trading 3.33 per cent down at Rs 171.50 per share as against it's last closing price on Friday of 177.40.