Rail Vikas Nigam (RVNL) advanced 1.59% to Rs 374.65 after the civil construction firm received letter of award (LoA) from National Thermal Power Corporation (NTPC) for Rs 495.14 crore.
The order constitutes project execution agency (PEA) contract for execution of balance civil & HM works of barrage complex including part HRT package of Rammam Hydro Electric Project Stage-III (3x40 MW).The project is to be executed in 66 months and the cost of project is Rs 495.14 crore.
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.
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