The firm had a net profit of Rs 27.04 crore in the first quarter of FY07-08, Patel Engineering said in a filing to the Bombay Stock Exchange.
The net sales rose to Rs 558.39 crore in the latest quarter, from Rs 415.25 crore in the corresponding period a year ago.
The board has declared a dividend of 80 per cent on shares of face value of Rs one for FY'08-09.
On a standalone basis the company reported a net profit of Rs 31.09 crore, a 17.94 per cent growth in net profit over the same period a year-ago. The firm had a net profit of Rs 26.36 crore in first quarter of FY'08.
The stand alone total income rose to Rs 396.20 crore in the latest quarter, from Rs 330.11 crore in the corresponding period a year-ago.
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Patel Engineering's Managing Director, Rupan Patel said, "With several big infrastructure projects expected to take-off in the coming months, we continue to remain bullish on the business environment."