PSP Projects report stellar 73 per cent PAT growth in Q3FY20

In the third quarter of the fiscal year 2019-20, PSP Projects posted stellar numbers. Its consolidated revenue during the quarter jumped nearly 61 per cent YoY to Rs 423.1 crore.

Its EBITDA for Q3FY20 surged by 47 per cent YoY to ~Rs 54 crore with a corresponding margin contraction of 120 bps. EBITDA margin for the quarter was at 12.8 per cent. This margin deterioration was mainly on account of unfavourable changes in inventories.

Profit after Tax (PAT) in the quarter too jumped by nearly 73 per cent YoY to Rs 36.4 crore. An increase in other income (up by 19 per cent YoY) aided the further PAT growth.

On a standalone basis, the company has received nearly Rs 1,552.53 crore of new orders in FY20 till now.

With these numbers, the stock of PSP Projects turned volatile and surged nearly two per cent to touch an intraday high of Rs 524.35. But later, it cooled down and at 1.10 pm, it was trading at Rs 517.2 apiece, up by nearly 0.5 per cent from its previous close.