Rail Vikas Nigam (RVNL) rose 2.79% to Rs 63.66 after the company said that it emerged as the lowest bidder (L1) for supply, installation, testing and commissioning work in Jabalpur for Rs 111.85 crore.
The scope of order entails supply, installation, testing and commissioning of 11 KV line bifurcation, line interconnection, line conductor augmentation, LT AB cabling augmentation and conversion of LT bare conductor to AB cabling under revamped reforms-based and results-linked distribution sector in Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna and Tikamgarh Circles of MPPKVVCL in the Jabalpur company area.The cost of project is Rs 111.85 crore.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc. As of 31 December 2022, the Government held 78.2% stake in the company.
The company had reported 30.5% rise in consolidated net profit to Rs 382.42 crore in Q3 FY23 from Rs 293.01 crore posted in Q3 FY22. Revenue from operations declined marginally to Rs 5,012.09 crore in Q3 FY23 as against Rs 5,049.24 crore posted in the same quarter last year.
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