RVNL gets new orders worth Rs 500 crore

6 Jun 2024 , 11:04 AM

RVNL, a public sector company, announced on Wednesday (June 5) that it has received new orders worth over ₹500 Crore.

It received a letter of acceptance from Eastern Railway for the building of the Sitarampur bypass line in Asansol Division. The project is valued at ₹390.97 Crore, as per a stock exchange filing.

RVNL was also the lowest bidder for the implementation of SCADA (supervisory control and data acquisition) and DMS/OMS (distribution management system/outage management system) works in Gurugram under Dakshin Haryana Bijli Vitran Nigam Ltd’s Revamped Distribution Sector Scheme (RDSS).

Rail Vikas Nigam estimated the project to cost ₹124.37 Crore, including taxes.

Rail Vikas Nigam’s net profit increased by 33.2% year on year to ₹478.6 Crore in the fourth quarter ending March 31, 2024. Rail Vikas Nigam reported a net profit of ₹359 Crore for the same period in FY23.

Revenue from operations climbed by 17.4% to ₹6,714 Crore, up from ₹5,719.8 Crore in the previous fiscal year. EBITDA increased by 21.8% to ₹456.4 Crore in the fourth quarter of the current 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. EBITDA is earnings before interest, taxes, depreciation, and amortisation.

RVNL operates as an extension of the Ministry of Railways, working for and on behalf of the MoR. It is authorised to serve as an Umbrella SPV to carry out project development, resource mobilisation, and other activities directly or through the formation of project-specific SPVs or any other financing structure deemed appropriate.

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