Titagarh Rail Systems Q3 PAT climbs 91% YoY to Rs 75 cr

Titagarh Rail Systems (TSRL) 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.

Profit before tax climbed 83.2% to Rs 100.11 crore in the December quarter as compared with Rs 54.65 crore recorded in the corresponding quarter last year.

In Q3 FY24, EBITDA jumped 52.30% to Rs 110.67 crore as compared with Rs 72.66 crore recorded in corresponding quarter last year. EBITDA margin was 11.59% in Q3 FY24 as against 9.48% in Q3 FY23.

The firm's revenue from freight rail system was at 853.76 crore (up 39.61% YoY) while passenger rail system stood at Rs 100.91 crore (down 34.83% YoY) during the period under review.

The companys manufacturing plant in Titagarh, West Bengal and Bharatpur, Rajasthan successfully rolled out 1021 wagons, marking a historic achievement for the Company cementing TRSLs position as a leader in the field of railway wagon manufacturing.

The company's order book is valued at Rs 27,466 crore and exhibits good diversification among both the business segments freight rolling stock and passenger rolling stock.

Umesh Chowdhary, vice chairman and managing director, Titagarh Rail Systems, said, The companys robust performance in Q3 FY24 is a reflection of our sustained operational momentum. On a year-over-year basis, the Freight Rolling Stocks / Passenger Rolling Stocks recorded substantial growth. The Government's unwavering emphasis on the building of world-class rail infrastructure in India makes us enthusiastic about higher and sustained growth in the upcoming quarters.

Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.

Shares of Titagarh Rail Systems slipped 1.33% to Rs 1025.30 on the BSE.

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