Power Mech Projects’ Q4 Net Profit Soars 58%

Power Mech Projects has reported results for the fourth quarter (Q4) and the year ended March 31, 2023. On a consolidated basis, the company has reported a 57.88% rise in its net profit at Rs 74.58 crore for the fourth quarter ended March 31, 2023, as compared to Rs 47.24 crore for the same quarter in the previous year. The total income of the company increased by 30.67% at Rs 1,183.21 crore for Q4FY23 as compared to Rs 905.48 crore for the corresponding quarter previous year.       

While, on a standalone basis, the company has reported a 52.68% rise in its net profit at Rs 76.07 crore for the quarter under review as compared to Rs 49.82 crore for the same quarter in the previous year. The total income of the company increased by 30.54% at Rs 1,165.21 crore for Q4FY23 as compared to Rs 892.62 crore for the corresponding quarter previous year.       

For the year ended March 31, 2023, on a consolidated basis, the company has reported a 49.69% rise in its net profit at Rs 207.32 crore as compared to Rs 138.50 crore for the previous year. Total income of the company increased by 32.64% at Rs 3,618.19 crore for the year under review as compared to Rs 2,727.81 crore for the year ended March 31, 2022.    

Today, the stock opened at Rs 3250.00, with a high and low of Rs 3250.00 and Rs 3127.80. Currently, the stock is trading at Rs 3143.50, down by 1.87%. The stock has a 52-week high of Rs 3294.00 and a 52-week low of Rs 810.95.   

Power Mech Projects is engaged in the business of engineering and construction, which specializes in the installation, testing, and commissioning (ETC) of boilers, turbines, and generators, as well as a balance of plant (BOP), civil works, and operation and maintenance (O&M). The firm works on ultra mega power, supercritical thermal power, and subcritical power projects.  

The shares of the company have gained over 40 per cent in the last six months and investors should keep a close eye on this multibagger stock.