On Saturday, Rail Vikas Nigam Limited (RVNL) released its Q1FY24 results, showing a 15% year-on-year jump in its consolidated net profits, reaching ₹343 crore during Q1 compared to ₹297.6 crore in the corresponding quarter of the previous fiscal. The revenue from operations of RVNL also witnessed a 20% year-on-year increase, reaching ₹4,640.7 crore from ₹5,571.5 crore in Q1FY23.
Moving forward to sequential data, the net profit of the company experienced a 4% decline, standing at ₹359.3 crore during the quarter ending March 2023. Similarly, the revenue from operations of RVNL decreased by 2% quarter-on-quarter, reaching ₹5,719.9 crore during Q4FY23.
RVNL Q1FY24 Results Summary:
- Consolidated Net Profits: Rail Vikas Nigam Limited (RVNL) reported a 15% year-on-year increase in consolidated net profits for Q1FY24, reaching ₹343 crore from ₹297.6 crore in the corresponding quarter of the previous fiscal year.
- Revenue Growth: RVNL’s revenue from operations experienced a 20% YoY increase, reaching ₹4,640.7 crore in Q1FY24 from ₹5,571.5 crore in Q1FY23.
- Sequential Net Profit: Sequentially, the company’s net profit declined by 4% to ₹359.3 crore during the quarter ending March 2023. Similarly, the revenue from operations also declined by 2% quarter-on-quarter to ₹5,719.9 crore during Q4FY23.
- Standalone Performance: In standalone terms, RVNL’s net profit grew by 17% from ₹283 crore in Q1FY23 to ₹333.5 crore in the reviewed period. The revenue from operations in standalone terms rose by 17% to ₹5,446.2 crore during the same period.
- Earning Per Share (EPS) Growth: The Earnings Per Share (EPS) of the company increased from ₹1.43 in the same quarter of the previous year to ₹1.65 in the period under review. In standalone terms, the EPS grew from ₹1.36 in Q1FY23 to ₹1.60 in Q1FY24.
- Navratna Status: RVNL, primarily focused on railway infrastructure projects, has been granted Navratna status by the Ministry of Railways. This elevation in status will grant RVNL increased operational autonomy, authority, and fiscal independence. RVNL plays a significant role in modernizing and expanding the Indian railway network, enhancing connectivity, efficiency, and safety. This elevation in status is expected to accelerate RVNL’s growth, particularly as it aims to expand internationally.
RVNL’s Q1FY24 results depict growth in net profits and revenue, both on a consolidated and standalone basis. The company’s newly acquired Navratna status is expected to further enhance its influence and capabilities in the railway infrastructure development sector.
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