Rail Vikas Nigam Bags Rs 1,098 Crore Power Project in Himachal Pradesh

3 Oct 2023 , 11:58 AM

Rail Vikas Nigam shares surged by 3% after securing Himachal Pradesh’s Rs 1,098 crore power distribution project. The project focuses on developing distribution infrastructure in Himachal Pradesh’s south zone under a specific scheme aimed at loss reduction, set to be completed in 24 months.

The company’s April-June quarter results show a 20.06% YoY increase in revenue, reaching Rs 5,572 crore, with a 15.10% YoY rise in net profit to Rs 343 crore. Operating profit margins remain steady at 6% for the quarter.

Rail Vikas Nigam, a government-owned ‘Navaratna’ company, specializes in railway infrastructure projects encompassing track renewal, electrification, station modernization, and bridge construction.

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