Patel Engineering Limited saw a 3% drop in its share price after announcing its Q4 results for the financial year. The company reported a significant decline in its net profit, while its revenue showed growth. As of 2.06 PM, the shares were trading 3.03% lower at Rs 43.25.
Patel Engineering’s net profit for Q4 fell by a significant 73%, dropping to ₹38 crore from ₹140 crore in the same period last year. On a positive note, the company posted a 20% increase in revenue, which stood at ₹1,611.8 crore, compared to ₹1,343 crore in Q4 of the previous year.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter decreased by 8%, reaching ₹218.3 crore from ₹237.3 crore a year ago. The company’s EBITDA margin also contracted, standing at 13.5% compared to 17.7% in Q4 of the previous year.
Patel Engineering’s stock opened at ₹44.86, reaching a high of ₹46.20 and a low of ₹43.17 in today’s trading session. The stock’s 52-week high stands at ₹74.40, while its 52-week low is ₹35.68.
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