Patel Engineering suffers net loss of Rs 32 cr for Q1FY21

New Delhi: Mumbai based Patel Engineering Ltd suffered a consolidated net loss of Rs 32 crore in the first quarter of the ongoing fiscal as compared to a net profit of Rs 48 crore in the corresponding quarter of the previous fiscal.

The consolidated profit before tax (negative) stood at Rs 33 crore (loss) in the first quarter of the ongoing fiscal as compared to a profit of Rs 54 crore in the corresponding quarter of the previous fiscal.

The consolidated revenue from operations declined 58 percent to Rs 276 crore in the first quarter of the ongoing fiscal as compared to Rs 661 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

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