RVNL Shares Rocket 5% As Profit Jumps 33%, Orderbook At ₹85,000 Cr

  • Benzinga India
  • Stock Market News
RVNL Shares Rocket 5% As Profit Jumps 33%, Orderbook At ₹85,000 Cr
Credit: © Reuters.

Benzinga - RVNL‘s share price continued its bull run at the bourses going up around 5% as the markets opened for trade on Saturday

What Happened: The surge comes as the company posted its results for the quarter ended March. The railway infrastructure company’s net profit for the quarter came in at ₹478.40 crore, marking an increase of around 33% from ₹359.25 crore in the same quarter last year. Revenue from operations for the March quarter stood at ₹6,714 crore, up approximately 17% from ₹5,720 crore posted in the corresponding quarter of the previous year. The company also announced a ₹2.11 per share dividend.

For the full year, the company recorded its highest-ever revenue and profit. The company completed 12 projects in the year. The orderbook of the company is at ₹85,000 crore. The company said that it wants to grow the topline at a rate of 5%-7% maintaining the orderbook at around ₹75,000 to ₹1 lakh crore. The company’s management added that ₹1 lakh crore is an aspirational target. The company said that it wants to have an order inflow of around ₹20,000-₹25,000 crore for the year.

In the last two months, the company has received orders worth over ₹1,500 crore. The strong order inflow has helped the RVNL share price jump up around 60% since the start of the year.

Price Action: RVNL's share price was up 4.85% to trade at ₹305 as the markets opened for the special session on Saturday.

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