RVNL Q3 PAT jumps 30% YoY to Rs 382 cr

Rail Vikas Nigam (RVNL) reported 30.5% rise in consolidated net profit to Rs 382.42 crore in Q3 FY23 from Rs 293.01 crore posted in Q3 FY22.

Revenue from operations declined marginally to Rs 5,012.09 crore in Q3 FY23 as against Rs 5,049.24 crore posted in the same quarter last year.

Profit before tax grew 14.03% year on year (YoY) to Rs 447.86 crore in the quarter ended 31 December 2022.

Total expenditure increased marginally to Rs 4,889.05 crore while other expenses spiked 16.04% to Rs 25.25 crore in Q3 FY23 over Q3 FY22.

The PSU company recorded a 10.26% decline in consolidated net profit to Rs 1,061.30 crore on a 24.87% decrease in net sales to Rs 14,561.74 crore in 9M FY23 over 9M FY22.

Meanwhile, the company announced that the Ministry of Railways has appointed Anupam Ban as Director (Personnel) of RVNL with effect from 9 February 2023 till the date of her superannuation, 31 October 2027 or until further orders, whichever is earlier.

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. As of 31 December 2022, the Government held 78.2% stake in the company.

Shares of RVNL closed 0.62% lower at Rs 71.85 on the BSE.

Powered by Capital Market - Live News