RVNL Q1 Results: Net profit jumps 15% to ₹343 crore, revenue up 20%
₹343 crore during Q1 from ₹297.6 crore during the corresponding quarter last fiscal. The revenue from operations of the RVNL jumped 20% year-on-year to ₹4,640.7 crore from ₹5,571.5 crore during Q1FY23. Sequentially, the net profit of the company plunged 4% at it stood ₹359.3 crore during the quarter ending March 2023.
The revenue from operations of the RVNL declined 2% quarter-on-quarter as it stood at ₹5719.9 crore during Q4FY23. In Standalone terms, the net profit of RVNL jumped 17% from ₹283 crore during Q1FY23 to ₹333.5 crore during the period under review. The revenue from operations in the standalone terms rose 17% to ₹5,446.2 crore during the period under review.
The Earning Per Share (EPS) of the company jumped from ₹1.43 during the same quarter last year to ₹1.65 during the period under review. In standalone terms, the EPS grew from ₹1.36 during Q1FY23 to ₹1.60 during the quarter ending June 2023. RVNL primarily focuses on the development and implementation of railway infrastructure projects.
It was established in 2003 as a public sector enterprise under the Ministry of Railways. RVNL plays a crucial role in modernizing and expanding the railway network in India to enhance connectivity, efficiency, and safety. Recently, the Ministry of Railways unveiled the conferment of Navratna status upon RVNL.
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