RVNL jumps after bagging LoA worth Rs 202-cr railway project

Rail Vikas Nigam (RVNL) rallied 3.47% to Rs 599.45 after the company said that it has received letter of acceptance (LoA) from south eastern railway for a project worth Rs 202.87 crore.

The scope of the order involves design, supply, erection, testing & commissioning of 132 KV traction substation, sectioning post (SPs), and sub sectioning post (SSPs) in 2x25KV System on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000MT.

The cost of the project is Rs 202.87 crore and is expected to be completed in 18 months.

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 companys consolidated net profit tumbled 34.7% to Rs 223.92 crore in Q1 FY25 from Rs 342.90 crore reported in Q1 FY24. Revenue from operations dropped 26.88% to Rs 4,073.80 crore in the June quarter as compared with Rs 5,571.57 crore posted in Q1 FY24.

Powered by Capital Market - Live News