RVNL shares slip 6% on Q1 earnings, check details

Shares of Rail Vikas Nigam Ltd (RVNL) slipped 6% on Thursday after the railway firm reported a 35% fall in Q1 net profit. RVNL shares fell 6.07% to Rs 531.45 in the afternoon session. A total of 27.96 lakh shares of RVNL changed hands amounting to a turnover of Rs 156.64 crore. Market cap of RVNL fell to Rs 1.13 lakh crore on BSE. 

RVNL shares have a one-year beta of 1.3, indicating high volatility during the period.      

The stock fell to a 52-week low of Rs 122.25 on August 18, 2023 and hit a record high of Rs 647 on July 15, 2024. 

In terms of technicals, the relative strength index (RSI) of RVNL stands at 53.5, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The rail infra major reported a net profit of Rs 223.92 crore in the June 2024 quarter against Rs 343.09 crore in the June 2023 quarter. Revenue slipped 27% to Rs 4073.80 crore in Q1 against Rs 5571 crore in the Q1 of previous fiscal. 

EBITDA declined 48% to Rs 182 crore in the last quarter against Rs 349 crore in the June 2023 quarter. 

Profit before tax in Q1 fell to Rs 301 crore against Rs 486 crore in the June 2023 quarter. Earnings per shares fell to Rs 1.07 in Q1 against Rs 1.65 in the June 2023 quarter. 

RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.