Why This Railway Stock Is Sliding Today

RVNL’s share price slid sharply on Friday morning as the company posted its earnings for the quarter ended September.

What Happened: RVNL reported a 3.5% increase in its consolidated net profit for the quarter ended September 2023, reaching 394.4 crore, compared to the ₹381.2 crore profit posted in the year-ago period. 

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The railway company’s revenue from operations came in flat at ₹4,914.32 crore compared to the same period last year. On a sequential basis, RVNL’s net profit grew 15% from ₹343 crore in the quarter ending June 2023. However, the revenue from operations declined nearly 12% quarter-on-quarter, standing at ₹5,571.57 crore in the April-June period.

EBITDA for the period declined by 5.6% to ₹298.3 crore, compared to ₹315.9 crore in the same period last year. The EBITDA margin for the quarter was reported at 6.1%. Earnings per share for the quarter was at ₹1.89.

Price Action: RVNL’s share price was down 1.52% to trade at ₹158.25 at open on Friday.

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Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasRail Vikas Nigam