RVNL Q1 Results, net profit fell by 34%

The Shares of Rail Vikas Nigam Ltd. fell over 5% after the company announced its June quarter results reporting the net profit lowered by 34% from last year to Rs 224 crore.

The company’s revenue for the quarter stood at Rs 4,074 crore, which is a decline of 27% from the Rs 5,571.6 crore it reported during the previous year's quarter.

Meanwhile, the company's Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) nearly halved from last year, declining by 48% to ?182 crore, while the EBITDA margin narrowed by 180 basis points to 4.5% from 6.3% last year.

Read Also : IndianOil Wins Big at FICCI Indian Sports Awards 2024 for Championing Sports Development

The current trading price for shares of RVNL is 5% lower at Rs 538.85. The stock has seen a 367% increase in the past 12 months and has tripled in value this year.

It reached a record high of Rs 647 on July 15 before correcting to the recent low of Rs 542. However, despite this correction, the stock is still up nearly 220% so far in 2024.

Read Also : NTPC Talcher Kaniha Shines with Prestigious Platinum Award