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RailTel Secures ₹186.81 Cr Contract from Indian Railways for HMIS Project

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Synopsis:

RailTel Corporation received a ₹186.81 crore contract from the Ministry of Railways for Hospital Management Information System (HMIS) design, development, and maintenance. For FY 2024, RailTel achieved a total income of ₹2,622 crore and a PAT of ₹246 crore. .

RailTel New Order Update

Keep an eye on RailTel share price today as the Railway PSU has announced a significant contract award from the Ministry of Railways. The contract is for the development and maintenance of a Hospital Management Information System (HMIS) and an integrated hospital referral portal.

Contract Details and Scope

The Ministry of Railways has entrusted RailTel with a ₹186.81 crore project encompassing the design, development, implementation, operations, and maintenance of the HMIS and an integrated empanelled hospital referral portal.

This contract, which spans four years, aims to upgrade the existing HMIS application to accommodate new requirements specified by the Railways.

RailTel, a mini Ratna company, holds a 72.84% shareholding by the Ministry of Railways, underscoring the strategic collaboration between the two entities. The project is expected to significantly enhance the efficiency and accessibility of healthcare services for Indian Railways' personnel and their families.

Financial Performance and Growth

RailTel Corporation reported a 3% increase in profit after tax (PAT) for the January-March quarter of 2023-24, amounting to ₹77.53 crore, compared to ₹75.24 crore in the corresponding period of the previous year. The company's total income for the last quarter of 2023-24 was ₹852 crore, up from ₹707.29 crore in the same quarter the previous year.

For FY 2024, RailTel achieved a total income of ₹2,622 crore and a PAT of ₹246 crore. This represents a substantial 31% growth in both turnover and profit compared to the previous year. The company's healthy order book and encouraging revenue growth signal robust operating income prospects in the upcoming quarters.

Market Performance

In June, RailTel received ₹81.6 Crore order from National Informatics Centre Services Incorporated (NICSI) for supply, installation, configuration, commissioning, and integration of ICT infrastructure. On Monday, RailTel share price closed at ₹523.45, marking an increase of ₹6.80 or 1.32% on BSE.

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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