Rail Vikas Nigam announced that it has received a letter of acceptance (LoA) for engineering, procurement and construction (EPC) order from South Central Railway worth Rs 440 crore.
The scope of the work includes doubling of track between Ankai station & Karanjgaon stations including electrification and signaling works in connection with Aurangabad-Ankai Doubling Project in Nanded division of South Central Railway.The time period for executing the project is 30 months and the cost of the project is Rs 440 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.
The scrip slipped 5.07% to currently trade at Rs 384 on the BSE.
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