#JustIn | #RVNL Signs MoU with Turkish Engineering Consulting & Contracting – TUMAS India for Partnership & collaboration in public transportation projects and infrastructure projects in #India pic.twitter.com/XFRjBh1zSH
— CNBC-TV18 (@CNBCTV18Live) April 18, 2024
The state-owned rail firm had emerged as the lowest (L1) bidder for three orders in late March. Before that in mid-March, it received a Letter of Award (LoA) for a project worth ₹106.37 crore in Madhya Pradesh.
RVNL’s net profit declined 6.2% year-on-year (YoY) to ₹358.6 crore in the October-December quarter (Q3FY24). In the corresponding quarter last year, Rail Vikas Nigam posted a net profit of ₹382.4 crore. RVNL’s revenue from operations dipped 6.4% to ₹4,689.3 crore as against ₹275.6 crore in the corresponding period of the preceding fiscal.
RVNL shares settled a percent higher at ₹260.55 on the NSE. So far this year, the rail PSU stock price has surged 43%, while the one-year return on the stock is 250%.
