RVNL jumps after PAT climbs 33% to Rs 478 cr in Q4 FY24

Rail Vikas Nigam (RVNL) rallied 6.86% to Rs 320.20 after 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.

Profit before tax stood at Rs 624.96 crore in March 2024 quarter, up 25.97% from Rs 496.09 crore posted in Q4 FY23.

During Q4 FY24, total expenses increased 16.63% YoY to Rs 6,412.41 crore. Employee benefits expense was at Rs 45.47 crore (up 19.56% YoY) and finance costs stood at 150.36 crore (up 2.76% YoY) during the period under review.

On a full year basis, the companys consolidated net profit rose 17.34% to Rs 1,574.47 crore on 7.92% increase in revenue from operations to Rs 21,889.23 crore in FY24 over FY23.

Meanwhile, the board has recommended a final dividend of Rs 2.11 per equity share for the financial year 2023-24.

Further, the company has bagged a work order from South Eastern Railway. The scope of the order is to design, supply, erect, testing and commissioning for upgradation of electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur(Excl.)- Bhadrak(Excl.) section of Kharagpur division of South Eastern Railway to meet 3000 MT loading Target. The time period for executing the project is 18 months and the cost of the project is Rs 148.26 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.

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