RVNL reported its earnings for the quarter ended June on Thursday. Shares of the railway major crashed as soon as the announcement was made in the afternoon hours of trading.
What Happened: The company’s consolidated net profit saw a 34% slump to ₹223.92 crore, compared with the ₹343 crore posted in the same quarter last year.
Revenue from operations came in at ₹4,073 crore, down 26% from the ₹5,571 crore posted in the corresponding quarter of the previous year. EBITDA for the quarter came in ₹182 crore with an EBITDA margin of 4.5%.
See Also: NHPC Shares In Red As Revenue Slips To ₹2,694 Cr In Q1
Antique Broking forecasted RVNL’s revenue for the quarter to rise by around 8% year-on-year to ₹6,006 crore. The firm’s net profit was anticipated to be around ₹408 crore.
Bloomberg estimated the rail infrastructure major's net profit at ₹394 crore, with revenue expected to be around ₹5,850 crore.
Price Action: RVNL’s share price was down 4.57% to trade at ₹539.95 on Thursday afternoon.
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