PSP Projects Q1 PAT slides 7% YoY to Rs 34 cr

Revenue from operations stood at Rs 611.89 crore in the quarter ended 30 June 2024, up 20.08% year on year basis.

Profit before tax and exceptional item stood at Rs 47.29 crore in Q1 FY25, down 4.29% from Rs 49.41 crore posted in Q1 FY24.

Total expenses climbed 22% YoY to Rs 568.35 crore in the quarter ended 30 June 2024. Cost of materials consumed was Rs 169.53 crore (down 16.21% YoY) and employee benefits expenses stood at Rs 32.61 crore (up 15.72% YoY) and construction expenses was at Rs 303.63 crore (up 40.97%), during the period under review.

During the quarter, the standalone EBITDA jumped to Rs 73.43 crore, registering a growth of 14% as compared to Rs 64.64 crore reported in Q1 FY24. EBITDA margin reduced to 12% in the June quarter as against 12.69% recorded in the corresponding quarter previous year.

On consolidated basis, the company’s net profit declined 8.35% to Rs 34.68 crore in Q1 FY25 as against with Rs 37.84 crore reported in Q1 FY24. Revenue from operations was at Rs 623.06 crore during the quarter, up 21.30% YoY.

Meanwhile, the company’s board approved re-appointment of Prahaladbhai S. Patel as the chairman, managing director (MD) & CEO of the company for further term of five years to be effective from 9 July 2025.

PSP Projects is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in the country.

Shares of PSP Projects were trading higher by 2.17% to Rs 729.35 on the BSE.