Texmaco Rail's Q1 Net Profit Soars 183% To ₹36 Cr, Revenue Jumps 36%

Texmaco Rail posted its earnings for the quarter ended June late on Tuesday evening.

What Happened: The company’s consolidated net profit for the quarter came in at ₹35.73 crore, up over 183% from the ₹12.68 crore posted in the same quarter last year. The company’s revenue from operation for the quarter under review stood at ₹891.71 crore, up around 36% from the ₹656.8 crore posted in the same quarter last year.

See Also: IRCTC Sees Q1 Net Profit Jump 33% To ₹308 Cr, Revenue Jumps 12%

The company’s freight car division segment — which accounts for most of the company’s revenue — reported a topline of ₹733.59 crore, a 38% increase from the ₹530 crore posted in the same quarter of the previous year. The infra – rail & green energy segment’s revenue stood at ₹104 crore, up from the previous year’s ₹96.18 crore.

Last month, the company announced that it plans to acquire Jindal Rail Infrastructure. This deal, valued at approximately ₹615 crore, is anticipated to bolster Texmaco’s position in the private freight rolling stock sector. The acquisition is expected to be finalised within 57 days, or an extended period agreed upon by the parties involved.

Price Action: Texmaco Rail’s share price was up 0.51% to close at ₹256.15 on Tuesday.

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