Titagarh Rail Systems reports profit in Q1 vs loss year ago

livemint.com:

Titagarh Wagons Limited) reported a net profit of ₹61.78 crore in the June quarter against a loss in the corresponding quarter last fiscal. The company reported a net loss of ₹600,000 a year ago. The rail wagon manufacturer's net revenue jumped 107.5% to ₹914.65 crore in the quarter.

The company reported earnings before interest, tax, depreciation and amortisation (Eitda) of ₹118.78 crore with an Ebitda margin of 13.04%.  The company’s two operating segments -- Freight Rail Systems and Passenger Rail Systems reported a revenue of ₹74,607.94 lakh and Rs164.68 crore, respectively, over the same period last fiscal year. The Umesh Chowdhary-led Titagarh has an order book of ₹27,000 crore as of March 2023. The company is looking to invest around ₹650 crore over the next two-three years to consolidate its manufacturing facilities.

Earlier in the year Titagarh Rail Systems and BHEL Ltd signed a contract to supply 80 Vande Bharat trains to Indian Railways and also maintain them over a period of 35 years starting in 2025. Managing director and CEO, Umesh Chowdhary had told Mint that the company will start supplying these wagons to Indian Railways starting June 2025 and will supply all 80 trains by 2029. The company is also in a joint venture with Ramakrishna Forgings Limited, under the name Ramakrishna Titagrah Rail Wheels Limited (RTRWL) to set up one of Asia’s largest train wheel manufacturing plants in India.  The joint venture plans to manufacture 200,000 wheels per annum, out of which 80,000 will be supplied to the Indian Railways under a contract.