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RVNL emerges as L1 bidder for Rs 1,098-cr project

30-Sep-23 14:26 Hrs IST

The order entails development of distribution infrastructure at South Zone of Himachal Pradesh under the revamped reforms-based and results-linked, distribution sector scheme (loss reduction works).

The contract price stood at Rs 10,97,68,43,890 and it is to be executed in 24 months.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

Rail Vikas Nigam (RVNL) reported 15.19% rise in consolidated net profit to Rs 342.90 crore in Q1 FY24 as against Rs 297.67 crore posted in Q1 FY23. Revenue from operations jumped 20.1% year on year to Rs 5,571.57 crore in the quarter ended 30 June 2023.

The scrip advanced 1.89% to Rs 169.40 on Friday, 29 September 2023.

The stock market will remain closed on Monday, 2 October 2023 on account of Mahatma Gandhi Jayanti.

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