RVNL stock price falls 5% as Q3 profit falls

EBITDA for the reporting period fell 9.6 percent to Rs 249.1 crore from the previous fiscal

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The Rail Vikas Nigam Limited ( RVNL) stock opened 5 percent on February 9, a day after announcing a 6.2 percent year-on-year decline in net profit for the December quarter.

At 9.20 am, the stock was trading at Rs 266.80 on the National Stock Exchange.

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For the quarter, Rail Vikas Nigam‘s profit fell 6.2 percent YoY to Rs 359 crore on a weak topline and operating performance. Revenue increased 6.4 percent to Rs 4,689.3 crore. EBITDA for the reporting period fell 9.6 percent to Rs 249.1 crore.

Also read: RVNL Q3 Results: Net profit falls 6.2% to Rs 358.6 cr, revenue down 6.4% at Rs 4,689.3 cr

In January, RVNL emerged as the lowest bidder for a Rs 251-crore Jabalpur power project. The project was for “supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling,” the company said in a release.

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