RVNL‘s management in its earnings call on Monday evening disclosed that the company’s orderbook as of June 30, 2024 stands at ₹83,221 crore.
What Happened: The current order book of ₹83,221 crore is a slight decline from the ₹85,000 crore order book reported at the end of March 2024.
Talking about the lukewarm results, the company’s management said that every year Q1 is a little weak comparatively. The company added that its operations were largely impacted by external factors such as elections, and geopolitical situations in some of the regions in which the company operates.
See Also: IRFC Sees Q1 Net Profit Inch Up To ₹1,576.8 Cr, Revenue At ₹6,765 Cr
One of the examples given of such disturbance was the Maldives project. “We had awarded all the subcontracts. We had mobilised all the resources and the manpower. But because of the geopolitical situation in Maldives, the project has been slowed down,” the management said in the call.
The company added that it planned for a turnover of around ₹300 crore during the first quarter from the project but could not achieve even 10% of that.
The company’s management added that it still stands by its guidance of achieving around ₹22,000 crore in revenue for the year ending March 2025.
Price Action: RVNL’s share price was up 11.14% to close at ₹575.85 on Monday.
Read Next: HUDCO Sees Q1 Net Profit Jump 25% To ₹557 Cr
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