Date:26/10/2005 URL: http://www.thehindubusinessline.com/2005/10/26/stories/2005102603620301.htm

Back Patel Engineering posts 65.51% rise in profit

Our Bureau

MUMBAI: Patel Engineering Ltd has posted a 65.51 per cent rise in net profit for the second quarter of the current fiscal to touch the Rs 12.54 crore mark, as against Rs 7.57 crore in the corresponding quarter of last fiscal.

During the quarter, its net income rose to Rs 183.13 crore, as compared to Rs 121.55 crore in the second quarter of last fiscal, registering a jump of 50.66 per cent.

The company has declared an interim dividend of 50 per cent (0.50 paise per share) on its paid up equity shares.

The company recently bagged two projects — the Nattampadu lift irrigation project worth Rs 315 crore and a railway tunnel project worth Rs 59 crore.