RVNL Q4 Results: Net profit down 5% to ₹359 crore, dividend declared; check key highlights
2 min read 29 May 2023, 05:54 PM ISTThe railway PSU's revenue from operations in the January-March quarter came in at ₹5,719.8 crore, registering a decline of 11 per cent, compared to ₹6,437.5 crore in the year-ago period.
PremiumRail Vikas Nigam Limited (RVNL) announced its Q4FY23 results on May 26, reporting a consolidated net profit of ₹359.3 crore, down five per cent, compared to ₹378 crore in the corresponding period last year. The railway PSU's revenue from operations in the January-March quarter came in at ₹5,719.8 crore, registering a decline of 11 per cent, compared to ₹6,437.5 crore in the year-ago period.
The company's board recommended a final dividend of ₹0.36 per share, i.e., 3.60 per cent on the paid-up equity share capital for the financial year 2022-23, upon the approval of shareholders. The dividend will be paid within 30 days from the date of its declaration at the company's meeting.
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On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the fourth quarter stood at ₹374.4 crore, down 8.3 per cent, compared to ₹408.4 crore in the same period last year. The total income for the quarter under review stood at ₹5,975.88 crore, compared to ₹6,647.52 crore in the same period last year.
Earlier this month, the railway ministry announced that RVNL was granted the Navratna status. With this, RVNL will see enhanced delegation of powers, more operational freedom and financial autonomy, which will likely give a huge impetus to the company’s progress, particularly as it expands its footprint beyond the railways sector and into international projects.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.
Ahead of Q4 results announcement today, RVNL share price witnessed strong buying interest among stock market bulls. The stock opened today with an upside gap and went on to hit intraday high of ₹120.80 apiece levels on NSE logging over four per cent rise from its Friday close of ₹115.85 per share levels.
According to shareholding pattern of RVNL for January to March 2023 quarter, LIC owns 13,29,43,000 RVNL shares or 6.38 per cent stake in the company. On May 29, shares of RVNL settled 4.97 per cent higher at ₹121.55 apiece on the BSE.
