As per the exchange filing, RVNL has bagged two letters of award from Himachal Pradesh State Electricity Board Ltd. It has secured orders worth ₹1,298 crore for the development of distribution infrastructure in the south and north zones of Himachal Pradesh State Electricity Board under the revamped reforms-based and results-linked, distribution sector scheme.

Besides, the company has won a project worth ₹251 crore from the Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company for supplying, installing, testing, and commissioning 11 KV Line-associated works in Jabalpur. Adding to it, the RVNL and URC joint venture have bagged a contract worth ₹543 crore from Madhya Pradesh Metro Rail Corporation (MPMRCL) for the Indore Metro Rail Project.

For the third quarter ended December 31, 2023, RVNL reported a decline of 6.2% in net profit at ₹358.6 crore, compared to ₹382.4 crore in the year ago period. The revenue from operations fell 6.4% to ₹4,689.3 crore as against ₹5,012.1 crore in the same period last year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) slipped 9.6% YoY to ₹249 crore in Q3 FY24, while EBIT margin stood at 5.3% versus 5.5% in the same period last year. In its post-earnings conference call with investors, the management said that RVNL’s turnover crossed ₹15,000 crore marks for the first time in FY23-24, while its order book touched ₹65,000 crore, which roughly constitutes 50% of the typical railway projects.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)

Madhya Pradesh Metro Rail Corporation

RVNL shares jump 8% on bagging multiple orders