Shares of Rail Vikas Nigam (RVNL) skyrocketed 13% on Wednesday, 19 February 2025, after the corporate introduced receiving an acceptance letter from the Rail Infrastructure Growth Company (Karnataka).
In its regulatory submitting, the corporate stated, “A Letter of Acceptance has been obtained from Rail Infrastructure Growth Firm (Karnataka) Restricted (Ok-RIDE) for “Package deal C4A: Building of 9 (9 Nos.) Stations i.e. Elevated (1 No.) and At-Grade (8 Nos.) BSRP Stations of Hall-4A at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, Kaggadasapura together with Civil, Structural, Entry / Exit Construction, Metal FOB, Roof Constructions, PEB works Architectural finishes and E&M Works and Detailed Design & Engineering (DOC) with all related works for Bengaluru Suburban Rail Mission” (BSRP).”
The venture must be accomplished in 24 months and is projected to value about Rs 55,446 crore.
RVNL introduced its Q3 monetary outcomes after market hours. The corporate’s general internet revenue fell 13% to Rs 311.58 crore from a revenue of Rs 358.57 crore the earlier 12 months. Nonetheless, the corporate’s income dropped from Rs 4,689.33 crore to Rs 4,567.38 crore, a 2.6% year-over-year (Y-o-Y) decline.
The corporate’s earnings earlier than curiosity, taxes, depreciation, and amortisation (EBITDA) elevated from Rs 249 crore to Rs 239 crore in the course of the quarter. In Q3 of FY24, the EBITDA margin was 5.3%; it now stands at 5.2%.
RVNL is a authorities company beneath the Ministry of Railways, Authorities of India that was established in 2003. RVNL’s major focus is on the design, growth, and implementation of railway infrastructure tasks across the nation.
At 12:04 pm, the shares of RVNL have been buying and selling 13.44% larger at Rs 378.15 on NSE.
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