Moneycontrol
Feb 14, 2018 01:30 PM IST | Source: Moneycontrol.com

Sunteck Realty, Patel Engineering up 6-15% on strong Q3 numbers

Sunteck Realty has reported 238 percent jump in its Q3 net profit to Rs 602 crore against Rs 178 crore in the same quarter last year.

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Shares of Sunteck Realty and Patel Engineering Company surged 6-15 percent intraday Wednesday on strong third quarter numbers.

Sunteck Realty has reported 238 percent jump in its Q3 net profit to Rs 602 crore against Rs 178 crore in the same quarter last year.

Revenue increased 141 percent to Rs 2,105 crore, operating profit shot up 160 percent year-on-year to Rs 891 crore and margin expanded 300 basis points to 44 percent in Q3.

Patel Engineering has turned profitable in Q3 with net income at Rs 6.9 crore despite one-time loss of Rs 273.6 crore and tax expenses of Rs 55.9 crore.

It had reported loss of Rs 0.7 crore in Q3FY17.

Revenue from operations declined 10.4 percent to Rs 635.7 crore YoY, but operating profit shot up sharply to Rs 267 crore and margin expanded to 42 percent from 13.7 percent YoY.

At 13:25 hrs Patel Engineering Company was quoting at Rs 82.80, up 11.97 percent and Sunteck Realty was quoting at Rs 418.70, up 4.98 percent on the BSE.

Posted by Rakesh Patil
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