Patel Engineering Strong quarterly earnings

Patel Engineering rose 0.22% to Rs 362.85 at 12:50 IST on BSE on reporting 58.4% rise in net profit to Rs 53.78 crore on 26.7% increase in net sales to Rs 501.98 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 370 and a low of Rs 342 so far during the day. The stock had a 52-week high of Rs 1070 on 4 January 2008 and a 52-week low of Rs 354.40 on 24 June 2008.

The company has an equity capital of Rs 5.97 crore. Face value per share is Rs 1.

The current price of Rs 362.85 discounts its Q4 March 2008 annualised EPS of Rs 36.09, by a PE multiple of 10.05.

Patel Engineering’s net profit rose 34% to Rs 147.61 crore on 19.8% increase in net sales to Rs 1330.02 crore in the year ended March 2008 over the year ended March 2007.

In May 2008, Patel Engineering’s joint venture in the United States received a dam reconstruction contract worth $280 million.

Patel Engineering designs and constructs power houses, hydroelectric projects, commercial buildings, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad.