RailTel posts consolidated income of Rs 474.15 crore in Q3

RailTel Corporation of India Limited, a CPSU under the Ministry of Railways, said its consolidated income rose to Rs 474.15 crore in third quarter of 2021-22, posting Q-o-Q growth of 24.38 per cent

RailTel Corporation of India Limited, a CPSU under the Ministry of Railways, on Tuesday said its consolidated income rose to Rs 474.15 crore in the third quarter of 2021-22, posting Q-o-Q growth of 24.38 per cent.

RailTel has posted a profit before tax (PBT) amounting to Rs 88.14 crore and profit after tax (PAT) of Rs 66.01 crore during the third quarter of Financial Year 2021-22 on a consolidated basis.

In the 9 months of the current financial year, RailTel has posted total revenue of Rs 1140 crore which is a 17.28 per cent growth over the 9 months of 2020-21.

Talking about the higher growth in income, Chairman and Managing Director of RailTel Puneet Chawla said, "we have done fairly well in this weak market scenario and have been posting profit consistently. If I compare the first nine months' result of the current FY with FY 2020-21, our PAT has grown by 34.78 per cent and Earnings Before Interest Tax Depreciation and Amortization (EBITDA) by 17.82 per cent."

He further said that right now we have a very healthy order book of Rs. 5400+ cr which will translate in our books in coming quarters in phased manner. Currently the focus is on digitization which is boosting our B2B as well as B2C business. We have been maintaining positive results even despite 3 waves of pandemics since 2020. We are confident about continuing this momentum in the future as well.

Our retail broadband service RailWire has reached 4.6 lakh subscribers and we are targetting for 5 lakh subscribers and more than Rs 280 crore turnover by end of March 2022. We are also focussing on our network and infrastructure expansion and upgradation. This will help us expand our clientele as well serving the existing ones better, he added.