Rail Vikas Nigam Ltd (RVNL), a state-owned enterprise under the Ministry of Railways, has reported a significant 35% drop in its consolidated net profit for the first quarter of FY’25. The net profit for the April-June 2024 quarter stood at Rs 223.92 crore, compared to Rs 343.09 crore in the corresponding period of the previous fiscal year.
The decline in profitability is attributed mainly to a reduction in the company’s total income, which fell to Rs 4,336.75 crore during the quarter under review, from Rs 5,853.18 crore in the same quarter last year.
RVNL is a key player in the development, financing, and implementation of rail infrastructure projects across India. Despite the decline in earnings, the company remains focused on advancing its project portfolio under the Ministry of Railways.
The company’s management is expected to closely monitor its financial performance and seek strategies to navigate the challenges posed by reduced income levels.
