RVNL added 1.41% to Rs 584.6 after the company said that it has emerged the lowest bidder for signalling sections of Chennai Division project worth Rs 111.38 crore from Southern Railway.
The scope of the order involves provision of MSDAC with existing DCTC at Stations (To serve as Dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway.
The cost of the project is Rs 111.38 crore and is expected to be completed in 18 months.
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.
The companys consolidated net profit tumbled 34.7% to Rs 223.92 crore in Q1 FY25 from Rs 342.90 crore reported in Q1 FY24. Revenue from operations dropped 26.88% to Rs 4,073.80 crore in the June quarter as compared with Rs 5,571.57 crore posted in Q1 FY24.
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