RVNL wins new project of Rs 187.34 crore

27 May 2024 , 12:14 PM

Rail Vikas Nigam (RVNL) shares rose 8% to a new 52-week high of ₹399.7 on Monday  after the business was named the lowest bidder for a project by Maharashtra Metro Rail Corporation (Nagpur Metro).

Rail Vikas Nigam Limited is the lowest bidder (L1) for 6 elevated metro stations (Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station) in Nagpur Metro’s Reach 2B of NMRP Phase 2, according to an exchange filing.

The project, worth ₹187.34 Crore, is expected to be finished within 30 months.

Earlier this week, on Monday, the company received a letter of acceptance worth ₹148.26 Crore from SER HQELECTRICAL/South Eastern Railway for the design, supply, erection, testing, and commissioning of an electric traction system upgrade for the Kharagpur (Excl.)-Bhadrak (Excl.) section of the Kharagpur division of South Eastern Railway to meet a 3000 MT loading target.

RVNL’s net profit increased by 33.2% year on year (YoY) in the fourth quarter of FY24 to ₹478.6 Crore. In the same quarter of FY23, it made a net profit of ₹359 Crore.

The company’s operating income climbed by 17.4% to ₹6,714 Crore, up from ₹5,719.8 Crore in the previous fiscal year.

At the operating level, EBITDA increased by 21.8% to ₹456.4 Crore in the fourth quarter of this fiscal year, up from ₹374.6 Crore the previous year. The EBITDA margin was 6.8% in the reporting quarter, up from 6.6% in the same period last fiscal year.

At around 12.00 PM, RVNL was trading 3.17% higher at ₹382.25, against the previous close of ₹370.50 on NSE. The counter touched an intraday high and low of ₹399.90, and ₹375.50, respectively.

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