RVNL Q3 Results: Net profit down 6% to ₹358 crore, revenue drops 6% YoY; 5 key highlights

RVNL Q3 Results: Rail Vikas Nigam Limited (RVNL) announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a decline of 6.2 per cent in net profit at ₹358.6 crore, compared to ₹382.4 crore in the yar-ago period. 

RVNL, a public sector undertaking (PSU), undertakes and executes the project development, financing and implementation of projects related to rail infrastructure, mobilise financial and human resources for project implementation and ensure timely execution of projects with least cost escalation among others. 

Also Read: Five railway stocks including IRFC, RVNL slide up to 14% amid profit booking

With regard to disinvestment, so far in the current fiscal, the government has collected ₹12,504 crore through minority stake sale in seven CPSEs, including RVNL along with Coal India, NHPC, and IREDA, as per the Interim Budget 2024.

Ahead of the announcement of Q3FY24 results, shares of RVNL settled 0.28 per cent higher at ₹281.70 apiece on the BSE.

Here are 5 key highlights of RVNL's Q3 scorecard:

-The Indian Railways' PSU's revenue from operations in the third quarter of current fiscal fell 6.4 per cent to ₹4,689.3 crore, compared to ₹5,012.1 crore in the same period last year.

-On a sequential basis, the company's net profit fell 9.1 per cent from ₹394.4 crore during the quarter ending September 2023. 

-The revenue from operations also declined 4.6 per cent quarter-on-quarter from ₹4,914.32 crore during the September quarter.

-On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the December quarter declined 9.6 per cent to ₹249 crore, compared to ₹275 crore in the year-ago period. 

-EBIT margin came in at 5.3 per cent compared to 5.5 per cent in the same period last year. The company's total expenses in the December quarter stood at ₹4,573.36 crore, compared to ₹4,888.51 crore in the year-ago period.