Shares of Rail Tel Ltd declined by over 4.43 percent to Rs 160.60 on July 28 at 10:04am following the company's announcement of its financial and operating results for the first fiscal quarter ending June 30, 2023.
Standalone revenue from operations was Rs 463.46 crore up 25 percent year on year (YoY) in Q1FY24 against Rs 370.46 crore in the corresponding period last year. While sequentially, total income was down 42.46 percent QoQ basis at Rs 408.35 crore in Q1FY24 against Rs 709.70 crore in Q4FY23.
Net profit in quarter ended June 2023 was up 49.36 percent YoY at Rs 37.46 crore against Rs 25.08 crore in Q1FY22. Sequentially net profit was down 50.41 percent QoQ against Rs 75.55 crore in Q4FY23.
The earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 10.6 percent YoY at Rs 74.1 crore as against Rs 67 crore. However, the EBITDA margin witnessed contraction at 15.9 percent in Q1 FY24 against 17.8 percent in the same period previous year.
Commenting on the results of RailTel, Chairman and Managing Director Sanjai Kumar said, “Operationally the company has been consistently performing with growth in revenue with healthy profits. The company has bagged new orders of Rs 1,632 crore in last six months maintaining a robust orderbook of Rs 4492 crore".
"With greater emphasis on project execution ,the company has visibility of substantial growth in operating Income in coming quarters”, the Kumar added.
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