Titagarh Rail Systems jumped 5.01% to Rs 1,004.40 after the company announced that it has received an order worth Rs 170 crore from the Ministry of Defence, Government of India for procurement of 250 specialized wagons.
The company said that the execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months.
Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.
The firms standalone net profit surged 91.25% to Rs 75.03 crore in Q3 FY24 as against to Rs 39.23 crore posted in Q3 FY23. Revenue from operations jumped 24.6% to Rs 954.68 crore in Q3 FY24 from Rs 766.40 crore recorded in the corresponding quarter previous year.
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