Patel Engineering declined 5.11% to Rs 344.50 at 14:40 IST on BSE despite posting 17.94% rise in net profit to Rs 31.09 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results during trading hours today, 15 July 2008.
The stock hit a high of Rs 359.80 and a low of Rs 337 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 286.05 on 2 July 2008.
The company has an equity capital of Rs 5.97 crore. Face value per share is Rs 1.
The current price of Rs 344.50 discounts its Q4 March 2008 annualised EPS of Rs 36.09, by a PE multiple of 9.55.
Patel Engineering’s net sales rose 20.02% to Rs 396.20 crore in Q1 June 2008 over Q1 June 2007. Patel Engineering’s consolidated net profit rose 29.39% to Rs 34.99 crore on 34.47% increase in total income to Rs 558.39 crore in Q1 June 2008 over Q1 June 2007.
The company’s order book stands above Rs 6000 crore (as on 30 June 2008).
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.
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