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Last Updated : Aug 14, 2019 02:25 PM IST | Source: Moneycontrol.com

Patel Engineering locked at 10% upper circuit despite massive slump in Q1 profit

The stock witnessed spurt in volume by more than 1.51 times and touched upper circuit of Rs 12.13 per share.

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Shares of Patel Engineering gained 10 percent intraday on Wednesday after the company reported an 81 percent YoY decline in consolidated net profit at Rs 42.2 crore. Consolidated revenue rose 8.1 percent at Rs 661.1 crore against Rs 611.7 crore (YoY).

Consolidated EBITDA went down 10.9 percent at Rs 77.4 crore against Rs 86.9 crore (YoY) while cons EBITDA margin stood at 11.7 percent against 14.2 percent (YoY).

The stock witnessed spurt in volume by more than 1.51 times and touched the upper circuit of Rs 12.13 per share.

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At 1406 hrs Patel Engineering Company was quoting at Rs 12.13, up Rs 1.10, or 9.97 percent. It has touched an intraday high of Rs 12.13 and an intraday low of Rs 10.25.

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First Published on Aug 14, 2019 02:25 pm
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