“It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from HPSEBL for Development of Distribution Infrastructure at CENTRAL ZONE of Himachal Pradesh under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme (Loss Reduction Work),” the public sector company informed in its exchange filing.
Earlier on February 27, RVNL informed in a separate update that it has received a letter of acceptance (LoA) from Central Railway for a ₹135.66-crore contract involving the design, supply, erection, testing, and commissioning of 132/55 KV traction substations, sectioning posts (SPs), and sub-sectioning posts (SSPs) in the Bhusaval-Khandwa section.
Last month, RVNL reported a 13.1% year-on-year (YoY) decline in net profit, which stood at ₹311.6 crore for the third quarter ending December 31, 2024. Revenue for the period fell by 2.6% to ₹4,567.4 crore. At the operating level, EBITDA (earnings before interest, tax, depreciation, and amortisation) decreased by 3.9% YoY to ₹239.4 crore. The EBITDA margin remained largely stable at 5.2%.
RVNL share price settled almost a percent higher at ₹326.40 on the NSE. So far this year, the rail PSU stock has corrected almost 24%, while the one-year return on the stock is still positive with over 34% gains. The stock is down nearly 50% from its peak of ₹647, which the scrip hit last August.
