PSP Projects dropped 4.59% to Rs 681.15 after consolidated net profit delcined 29.47% to Rs 35.36 crore in Q3 FY23 from Rs 50.13 crore in Q3 FY22.
However, revenue from operations stood at Rs 500.15 crore in the quarter ended 31 December 2022, registering a growth of 3% on YoY basis.Profit before tax stood at Rs 48.25 crore in Q3 FY23, down 26.8% from Rs 65.91 crore in Q3 FY22. Total expenses increased 6.9% YoY to Rs 458.34 crore in the quarter ended 31 December 2022.
Cost of materials consumed was Rs 154.05 crore (up 18.29% YoY) and employee benefits expenses stood at Rs 23.47 crore (up 43.19% YoY) while construction expenses was at Rs 242.05 crore (down 6.95%), during the period under review.
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.
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