Rail Vikas Nigam (RVNL) has been named the lowest bidder for a Rs 191.53 crore railway project from South Eastern Railway. The project involves the design, supply, erection, testing, and commissioning of a 132 KV traction substation and other related infrastructure on the Raj Khaswan, Nayagarh-Bolani section of Chakradharpur division.
This project aims to meet a 3000MT loading target and must be completed within 18 months. RVNL handles various railway projects, including new lines, doubling, gauge conversion, electrification, metro projects, workshops, and bridges.
The company reported a 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24, compared to Rs 359.25 crore in Q4 FY23. Revenue from operations rose 17.38% year-on-year to Rs 6,714.01 crore in the same period. RVNL’s stock price jumped 5.77% to Rs 409.70 on Friday, June 21, 2024.
