RVNL Stock Dips 5% After 6.2% YoY Profit Decline in December Quarter

9 Feb 2024 , 03:18 PM

RVNL stock opens 5 % lower on February 9 after announcing a 6.2% YoY decline in net profit for the December quarter. At the time of writing, the stock is trading at ₹259.80 on the National Stock Exchange.

RVNL’s quarterly profit dropped to ₹359 Crore, down 6.2% YoY, attributed to weak topline and operating performance. Revenue increased by 6.4% to ₹4,689.3 Crore for the same quarter.

EBITDA for the reporting period witnessed a decline of 9.6%, reaching ₹249.1 crore.

In January, RVNL secured the lowest bid for a ₹251 Crore Jabalpur power project, involving supply, installation, testing, and commissioning of 11 KV Line associated works.

The project includes tasks such as 11 KV Line Bifurcation, 11 KV Line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation, and conversion of LT Bare conductor to AB cabling.

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