Rail Vikas Nigam has reported a 3.5 percent rise in its consolidated net profit for the quarter ended September 2023 to Rs 394.4 crore. However revenue from operations remained flat.
The company’s net profit rose 15 percent, from Rs 343 crore during the quarter ending June 2023. The revenue from operations declined nearly 12 percent quarter-on-quarter as it stood at Rs 5,571.57 crore during Q1FY24.
In standalone terms, net profit jumped 24 percent from Rs 217.69 crore during Q2FY23 to Rs 296.45 crore during the period under review. The revenue from operations in the standalone terms remained flat at Rs 4,909.79 crore during the period under review.
RVNL has seen its topline fall consecutively for two straight quarters in a row. The company’s revenues have fallen from Rs 5,719.9 crore during Q4FY23 to Rs 4,914 crore last quarter.
Ministry of Railways unveiled the conferment of Navratna status upon RVNL. This elevation in status will result in a heightened transfer of authority, increased operational latitude, and greater fiscal independence for RVNL.
These transformative changes are poised to significantly catalyze the advancement of the company, especially as it endeavors to extend its influence beyond the domestic railway domain, venturing into international ventures.
