Patel Engg net profit up 16 per cent

BS 200 SCORECARD

Civil infrastructure construction firm Patel Engineering today posted a 16.35 per cent increase in consolidated net profit at Rs 29.46 crore for the quarter ended December 31, 2006, as compared with Rs 25.32 crore in the corresponding quarter last year.

Consolidated revenues for the quarter rose 21.73 per cent to Rs 284.11 crore as against Rs 233.39 crore during the same period last year, Patel Engineering said in a statement here.

"With the government's expenditure on infrastructure increasing, we continue to remain bullish and, going forward, we intend to bid for projects on public-private partnerships," Patel Engineering Director Sonal Patel said.

Patel Engineering recorded a 51.14 per cent rise in the net profit to Rs 75.05 crore for the nine-month period ended December 31, 2006, compared with Rs 49.65 crore in the year-ago period. Net profit margin of the company for the nine months rose to 8.94 per cent as against 7.55 per cent posted during the same period last year, it added.