RVNL Q1 Results Highlights: Profit Declines 35% YoY to ₹224 Cr

State-owned RVNL announced a 35% decrease in consolidated net profit to ₹224 crore for the first quarter ending June 2024, compared to ₹343 crore in the corresponding quarter last year. Revenue from operations declined by 27% to ₹4,074 crore, down from ₹5,572 crore year-over-year. Sequentially, net profit fell by 53% from ₹478 crore in the March 2024 quarter, while revenue from operations dropped by 39% from ₹6,714 crore.

RVNL Q1 Results Highlights

State-owned RVNL Ltd reported a 35% decline in its consolidated net profit, amounting to ₹224 crore for the first quarter ending June 2024, compared to ₹343 crore in the same quarter of the previous year. At 5:30 PM IST, shares of RVNL were trading at ₹539.50 a piece on the NSE.

During the April-June 2024 period, revenue from operations dropped by 27%, reaching ₹4,074 crore, down from ₹5,572 crore in the corresponding period last year.

On a quarter-on-quarter basis, net profit decreased by 53% from ₹478 crore recorded in the March 2024 quarter. Revenue from operations also saw a 39% decline QoQ, falling from ₹6,714 crore in the March 2024 quarter.

EBITDA for the first quarter fell by 48% YoY to ₹189 crore, compared to ₹349 crore in the previous year’s quarter. Margins also decreased by 180 basis points YoY, standing at 4.5%.

Total expenses reduced by 25% YoY to ₹4,036 crore in the June quarter, compared to ₹5,374 crore in the same quarter last year.

The company incurred finance costs of ₹137 crore during the reporting quarter, compared to ₹146 crore in the year-ago quarter.

About Rail Vikas Nigam Limited

Rail Vikas Nigam Limited (RVNL) is an Indian company engaged in the development of rail infrastructure. It specializes in implementing various rail infrastructure projects, including gauge conversion, new lines, railway electrification, bridges, workshops, and production units. RVNL handles project development, financing, and implementation related to rail infrastructure.

RVNL undertakes all types of railway projects, such as new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable-stayed bridges, and institutional buildings. Operating on a turnkey basis, the company manages the entire project lifecycle from conceptualization to commissioning, including design, estimate preparation, contract solicitation, and project and contract management. Its clients comprise various central and state government ministries, departments, and public sector undertakings.