Titagarh Rail Systems posted its earnings for the quarter ended June on Tuesday evening.

What Happened: The rail major’s net profit for the quarter came in at ₹67.01 crore, up around 8% from the ₹61.79 crore posted in the same quarter of the previous year. The company reported a 0.7% decrease in revenue from operations at ₹903 crore, compared to the ₹910 crore posted in the corresponding quarter of the previous year.

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Antique Broking estimated the company’s revenue for the quarter at ₹1,204.8 crore, with a net profit of ₹92.7 crore. The numbers also missed Bloomberg’s estimate of around ₹1,222 crore in revenue and ₹82 crore in profit.

The major chunk of the company’s revenue came from the freight train segment at ₹842 crore, the passenger train segment amounted to around ₹62 crore.

Earlier this month, the company informed that it has initiated the export of traction converters to Italy. This move is part of a EUR 7.18 million (around ₹65 crore) deal with Titagarh Firema S.p.A.

Price Action: Titagarh’s share price was down 0.42% to close at ₹1,683.70 on Tuesday.

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