Titagarh Rail Systems Q1 Results: Net profit at ₹61 crore driven by higher income
₹61.77 crore for the April-June quarter of 2023-24 driven by higher income. The company posted a consolidated net loss of ₹6.46 lakh in the first quarter of the previous fiscal, the company said in a filing to BSE.
The consolidated total income in the April-June period more than doubled to ₹914.64 crore, over ₹440.78 crore in the year-ago period, it said. Headquartered in Kolkata, the Titagarh group is a leading manufacturer of freight and passenger rolling stock.
In March, Titagarh Rail Systems Ltd in consortium with Ramkrishna Forgings emerged as the lowest bidder for the supply of 15.40 lakh forged wheels to Indian Railways. The JV namely Ramkrishna Titagarh Wheels Ltd (RTWL) will be engaged in manufacturing and supply of forged wheels under the Atma Nirbhar Bharat initiative, the filing said.
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