Public sector enterprise, the Rail Vikas Nigam Limited (RVNL) has won a contract worth Rs 191.53 crore from the South Eastern Railway, the PSU said in its exchange filing on June 21.
The PSU will handle the design, supply, installation, testing, and commissioning of a 132 KV traction substation and related posts on the Raj Khaswan, Nayagarh-Bolani section to support a 3000MT loading target. The project must be completed in 18 months.
“Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from SER HQ-ELECTRICAL/SOUTH EASTERN RAILWAY for ‘Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode,” the Rail sector PSU said.
RVNL, which works on various railway projects including new lines and electrification, reported a 33.16 per cent increase in profit, reaching a little over Rs 478 crore in the fourth quarter of the financial year (FY) 2024, up from Rs 359.25 crore in Q4FY23.
The company’s revenue rose 17.38 per cent to Rs 6,714.01 crore during the same period. The company’s stock price increased by 5.77 per cent, closing at Rs 409.70 on Friday, June 21, 2024.
The company’s shares traded at Rs 409.90, 5.84 per cent higher on June 21. Its shares have risen around 131 per cent in the last six months.
In May last year, the company which comes under the Ministry of Railways received the ‘Navratna’ status.
It was incorporated as a PSU on January 24, 2003, with the objective of implementing projects relating to the creation and augmentation of capacities of rail infrastructure.
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