Rail Vikas Nigam records Q1 PAT of Rs141cr; Long-term biz outlook positive

In the latest quarter, the company recorded a consolidated net profit of Rs140.98cr compared to a profit of Rs180.74cr in the corresponding quarter of the previous year.

Sep 14, 2020 04:09 IST India Infoline News Service

Result Analysis
State-owned Rail Vikas Nigam has announced its financial performance for the quarter ending June 2020  (Q1FY21). In the latest quarter, the company recorded a consolidated net profit of Rs140.98cr compared to a profit of Rs180.74cr in the corresponding quarter of the previous year. In the preceding quarter, the profit stood at Rs245.72cr.

Consolidated revenue from operation stood at Rs2,910.82cr in the quarter under review, higher compared to Rs2,845.64cr a year ago same period. However, revenue contracted against Rs4,220.67cr recorded in Q4FY20.

In its financial audit report, Rail Vikas Nigam said, "The outbreak of Coronavirus(COVID-19) globally and in India has impacted businesses and economic activities in general. Though the Group has been able to maintain the revenue but growth has been impacted and there is a slight increase only in comparison to the normal growth rate over recent years."

It added, "The Group expects to fully recover the carrying amounts of the assets and comfortably discharge its obligations. The Group is positive on the long-term business outlook as well as its financial position. However, the Group will continue to monitor developments to identify significant uncertainties relating to business operations in future periods."

On Sensex, the company's stock settled at Rs21.45 per piece up 0.47%. The stock has touched an intraday high and low of Rs21.75 per piece and Rs21.20 per piece respectively. 

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