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Rail Vikas Nigam Wins ₹132.59 Cr Contract from Central Railway

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Synopsis:

Rail Vikas Nigam (RVNL) receives ₹132.59 crore contract for upgrading the electric traction system to 2 x 25 kV in Wardha-Ballarshah section. The project duration is 24 months. Q4 FY24 net profit rose by 33.16% to ₹478.40 crore.

RVNL News Today

Rail Vikas Nigam Limited (RVNL) has received a letter of acceptance (LoA) from Central Railway for a significant overhead modification project. This project involves the up-gradation of the existing 1 x 25 kV electric traction system to a 2 x 25 kV AT feeding system in the Wardha-Ballarshah section of the Nagpur division, Central Railway.

Project Scope and Objectives

The primary objective of this project is to upgrade the existing traction system to support a 3,000 MT loading target. The conversion from a 1 x 25 kV system to a 2 x 25 kV AT feeding system is crucial for meeting this enhanced capacity requirement. The project, valued at ₹132.59 crore, is slated to be completed within a 24-month timeframe.

Explore: Rail Vikas Nigam Limited Share Price

Financial Performance

RVNL has demonstrated strong financial performance, reporting a 33.16% increase in consolidated net profit to ₹478.40 crore in Q4 FY24. This is compared to the corresponding quarter in the previous fiscal year (Q4 FY23), where the net profit was significantly lower. Additionally, the company's revenue from operations saw a 17.38% jump, reaching ₹6,714.01 crore in Q4 FY24.

RVNL's Comprehensive Railway Projects

Rail Vikas Nigam is renowned for its expertise in executing diverse railway projects. These include the construction of new railway lines, doubling tracks, gauge conversion, electrification, metro projects, workshops, major bridges, and institution buildings. The company's broad portfolio underscores its capability to manage complex and large-scale infrastructure projects.

RVNL Share Price Performance

On Friday, RVNL share price experienced a slight decline of 0.55%, closing at ₹626.55. This minor drop in the stock price reflects market fluctuations and investor sentiment.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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