Patel Engineering Q4 net up 25%

Infrastructure construction firm Patel Engineering today said its net profit rose by 25.23 per cent to Rs 63.22 crore in the fourth quarter ended March 31, 2009, over the same period last year.     

The company had a net profit of Rs 50.48 crore in the same period ended March 2008, Patel Engineering said in a filing to the Bombay Stock Exchange.     

Net sales of the company rose to Rs 964.99 crore for the quarter ended March 2009 from Rs 726.77 crore in the same period previous year.     

For the financial year 2008-09, the company posted a net profit of Rs 180.48 crore, up 19.52 per cent from Rs 151 crore in the same period last year.     

The board of directors of the company proposed a dividend of Rs 0.95 a piece for the year 2008-09, subject to the approval of members.     

Shares of Patel Engineering were trading at Rs 421 on BSE, up 3.81 per cent over the previous close.