Titagarh Rail Systems (TSRL) surged 7.60% to Rs 1,195.85 after its standalone net profit surged 57.35% to Rs 83.41 crore in Q4 FY24 as against to Rs 53.01 crore posted in Q4 FY23.
Revenue from operations increased 8.03% to Rs 1,052.41 crore in fourth quarter of FY24 from Rs 974.22 crore recorded in the corresponding quarter previous year.Profit before tax climbed 48.98% YoY to Rs 111.99 crore in the March 2024 quarter.
The firm's revenue from freight rail system was at 1,016.87 crore (up 25.83% YoY) while passenger rail system stood at Rs 35.54 crore (down 78.6% YoY) during the period under review.
On a full year basis, standalone net profit stood at Rs 296.91 crore, steeply higher than Rs 103.37 crore posted in FY24 over FY23. Revenue from operations increased 38.58% YoY to Rs 3,853.30 crore in the financial year ended 31 March 2024.
Meanwhile, the board recommended a dividend of Rs 2 per equity share for the financial year 2023-24.
Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.
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