RVNL-Siemens win ₹394 Crore order from Bangalore Metro Rail

11 Jun 2024 , 10:15 AM

RVNL announced on Monday that the Siemens-RVNL consortium has secured a letter of acceptance from Bangalore Metro Rail Corporation Ltd (BMRCL) for a project valued at ₹394 Crore.

The project entails engineering, supply, erection, testing, and commissioning of 33 KV distribution, 750V DC third rail traction electrification, including traction substations, auxiliary substations, and SCADA systems for phase-2A and phase-2B of the Bangalore Metro.

Siemens Ltd holds a majority stake of 70% in the consortium, with Rail Vikas Nigam Ltd holding the remaining 30%, as per a stock exchange filing.

RVNL reported a significant year-on-year increase of 33.2% in net profit, reaching ₹478.6 Crore for the fourth quarter ending March 31, 2024. In the same period of FY23, RVNL posted a net profit of ₹359 Crore.

The company’s revenue from operations surged by 17.4% to ₹6,714 Crore compared to ₹5,719.8 Crore in the corresponding period of the preceding fiscal year.

EBITDA (earnings before interest, tax, depreciation, and amortization) witnessed a notable rise of 21.8%, reaching ₹456.4 Crore in the fourth quarter of the fiscal year, up from ₹374.6 Crore in the year-ago period.

The EBITDA margin for the reporting quarter stood at 6.8%, compared to 6.6% in the corresponding period of the previous fiscal year. RVNL serves as an executing arm of Indian Railways and executes projects assigned to it by the ministry.

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