The state-owned engineering and consultancy firm reported quarterly net profit of Rs 180 crore, despite a fall in revenue, as stronger margins and new contract wins boosted performance.
Engineers India reported a sharp rise in quarterly profit on Friday, helped by stronger operating performance and a swelling order pipeline, even as turnover slipped. The state-owned engineering and consultancy company said net profit for the three months ended September 30 climbed 56% year on year to Rs 180 crore, while its order book reached a record Rs 20,421 crore.
According to the company’s results, profit also rose 66% from the June quarter. Earnings before interest, tax, depreciation and amortisation, including other income, increased to Rs 240 crore from Rs 155 crore in the previous quarter, lifting the EBITDA margin to 27% from 19%. Revenue, however, eased to Rs 802 crore from Rs 900 crore in the April-June period.
For the first half of the financial year, Engineers India secured new orders worth Rs 7,428 crore, including Rs 5,762 crore from consultancy services and Rs 1,666 crore from turnkey projects. The company said the surge in work won during the period underpinned the record order book at the end of September and offered visibility for future revenue.
Half-year profit rose 56% to Rs 288 crore, while EBITDA for the period stood at Rs 395 crore, compared with Rs 265 crore a year earlier. Engineers India said it plans to keep expanding its business, improve efficiency, broaden its project mix and strengthen its overseas presence, while pursuing opportunities across conventional energy, the energy transition and infrastructure.
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