Rail Vikas Nigam advanced 3.24% to Rs 33.45 after the company said that its joint venture RVNL-Bhartia has been awarded a letter of acceptance (LoA) by the Northeast Frontier Railway for construction of single line BG tunnel.
The total estimated cost of the project is Rs 560.26 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. As of 31 March 2022, the Government held 78.2% stake in the company.
The company reported 1% fall in consolidated net profit to Rs 378.16 crore in Q4 FY22 from Rs 381.79 crore posted in Q4 FY21. Net sales stood at Rs 6,437.54 crore for the quarter ended 31 March 2022 as against Rs 5,577.92 crore during the same period in the previous year, registering a growth of 15.4%.
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