Railtel Corp gains on bagging order worth Rs 253 cr

RailTel Corporation of India rose 1.22% to Rs 116.50 after the company received an order worth Rs 253.35 crore from State Bank of India for provisioning of 4G LTE for 15,000 ATMs across India with maintenance work for 5 years.

RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. As on 31 Dec 2022, the Government of India holds 72.84% stake in the company.

The company's consolidated net profit declined 51.6% to Rs 31.95 crore despite of 8.8% rise in net sales to Rs 454.32 crore in Q3 FY23 over Q3 FY22.

 

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