Rail Vikas Nigam (RVNL) said that it has been emerges as lowest bidder from Maharashtra Metro Rail Corporation (Nagpur Metro) for construction of elevated metro stations in Nagpur.
The order includes construction of 6 Nos Elevated Metro Stations (Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club and Kanhan River Metro Station) in Reach 2B of Nagpur Metro Rail Project (NMRP) Phase 2.The said order is worth Rs 187.34 crore and it will be completed in 30 months.
Meanwhile, the Bombay Stock Exchange (BSE) and National Stocks Exchange (NSE) have levied fine of Rs 5,36,900 each (including GST) on the company for the non-compliance with Regulation-17(1), half of the board was not independent including women independent director for the quarter ended 31st March, 2024.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
The company reported 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24 as compared with Rs 359.25 crore in Q4 FY23. Revenue from operations jumped 17.38% year on year (YoY) to Rs 6,714.01 crore in the fourth quarter of FY24.
The scrip fell 0.51% to end at Rs 370.35 on the Friday, 24 May 2024..
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